leadf
logo-loader
viewEurasia Mining PLC

Eurasia Mining says officals vetting feasibilty study for Monchetundra

Christian Schaffalitzky, Eurasia’s managing director, said: "It is encouraging to have had an initial response from GKZ.

picture of platinum
West Kytlim is an alluvial project

A feasibility study for the Monchetundra platinum project in Russia is now under review by the State Commission on Mineral Reserves (GKZ), said Eurasia Mining plc (LON:EUA).

Christian Schaffalitzky, Eurasia’s managing director, said: "It is encouraging to have had an initial response from GKZ who are now actively working on approval of the Monchetundra TEO/Feasibility Study. 

In an overview of its progress at its Russian projects Eurasia added a royalty deal with Lemuria at Monchetundra and also the West Kytlim platinum project won’t now go ahead.

The Canadian group was only interested in West Kytlim, said Eurasia, but here it had decided to carry on with existing partner SKRS.

Talks are underway with SKRS over production scheduling and resource upgrade drilling and a further injection of capital from the Russian group.

 “Our working relationship with SKRS at West Kytlim throughout 2016 was both amicable and mutually beneficial,” he said, but added it was imperative that SKRS deploys the necessary capital to allow the project to expand in this the second year of production. 

Quick facts: Eurasia Mining PLC

Price: 30.5 GBX

AIM:EUA
Market: AIM
Market Cap: £841.4 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Eurasia Mining PLC named herein, including the promotion by the Company of Eurasia Mining PLC in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Market Report: FTSE falls as dollar weakness strengthens pound

The FTSE 100 starts on the back foot this Tuesday as dollar weakness strengthens sterling. The London bourse is taking its lead from global stocks after the US imposed fresh sanctions on Chinese telecoms group Huawei. Marks & Spencer (LON:MKS) is cutting 7,000 jobs over the next three...

on 18/8/20

2 min read