Eurasia Mining PLC - West Kytlim DFS Approved
EURASIA MINING PLC
("Eurasia" or "the Company")
West Kytlim DFS Approved
Eurasia Mining plc, the palladium, platinum, rhodium, iridium and gold producing company, operating the established
Approval of the Definitive Feasibility Study
The DFS is the final stage feasibility study that starts with the concept/scoping study, then develops into preliminary feasibility study/studies ("PFS") followed by feasibility study/studies ("FS") and finally by DFS.
As previously announced, the DFS was prepared by GeoInvestProject ("GIP"), an independent technical and engineering consulting company.
The DFS formal approval is a step change in the development of West Kytlim, eliminating single asset risk by allowing production at several open pits concurrently, thereby increasing production volumes in comparison to a sequential mining approach.
In addition, the DFS allows for year-round stripping, earth moving and ore stockpiling in advance of the ore processing.
The stripping and earthmoving activities are ongoing and unaffected by COVID-19 (zero cases to date thanks to the mechanised open pit nature of the operations and the strict prevention measures implemented) and are set to continue uninterrupted until the spring when running water will allow the resumption of ore beneficiation, which will run concurrently with mining operations.
The cash position of the company is over
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
Eurasia Mining Plc
+44 (0)207 932 0418
SP Angel Corporate Finance LLP (Nomad and Joint Broker)
+44 (0)20 3470 0470
Optiva Securities (Joint Broker)
Tel: +44 (0) 20 3137 1902
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