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Additional Information
Market: AIM
Sector: General Mining - Platinum Group Metals
EPIC: EUA
Latest Price: 0.55p  (0,00%)
52-week High: 1.35p
52-week Low: 0.50p
Market Cap: 5.31M
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Eurasia Mining
www.eurasiamining.co.uk
Eurasia Mining Plc is an international mineral exploration company, listed on the Alternative Investment Market (AIM), currently operating in Russia.

Eurasia's stated objective is to explore for the platinum group of metals (PGMs) and gold through self-funded own exploration targets and joint venture partnerships with strategic operators and local partners. Operations are funded from the company's own equity funds and funded joint venture agreements. Projects are subject to an initial evaluation for viability and once this is established further exploration work is carried out to establish feasibility study level. It is then the company's intention to either proceed with developing the project to production or partnering the project with a suitable operator.
Full Eurasia Mining profile here
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Eurasia Mining continues evaluating investment opportunities in Russia and FSU

9th Sep 2011, 9:19 am by Sergei Balashov Eurasia Mining is currently waiting to have its application for a production license for West Kytlim approved by Russian authorities

In today’s interim report, Eurasia Mining (LON:EUA) highlighted the progress made at its flagship West Kytlim alluvial platinum project in Russia and said it continues looking for more assets in Russia and the former Soviet Union (FSU).

Just yesterday, Eurasia Mining reported that the Russian government had approved two further areas of additional reserves of C2 classification as defined by the Russian Standard within the Tylai-Kosvinsky (TK) Placer at West Kytlim.

This addition increased the approved C2 reserves at West Kytlim by 81 percent.

Eurasia Mining is currently waiting to have its application for a production license approved by Russian authorities. It may be possible to combine the two new areas into one revised application.

Apart from West Kytlim, the company has been working on its Kamushanovskoye uranium project in Kyrgyzstan after agreeing to co-fund a bankable feasibility study for Kamushanovskoye in March this year.

The company has so far invested US$602,000 in the project with further financing planned.

In the meantime, the company said it continues to evaluate other investment opportunities both in Russia and the former Soviet Union.

On the financial side, Eurasia posted pre-tax losses of £0.39 million in the six months to end June compared to £0.18 million for the same period last year and £0.52 million for the full year 2010.

Cash balance stood at £0.32 million at the end of June, compared to £0.94 million at the start of the period.

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