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No company should give a Pt equivalent figure without referencing all the metals that are included in making up that Pt equivalent figure and their prices, without prices and what metals are included it means very little and is misleading to an investor.
Here's another figure which has been given and we now know that we have full Russian law legal cover -
"The Additional Assets have a total of 104.6 Moz Platinum equivalent resources as at 31.12.2020 (source: Russian Feasibility Study ("FS"), TsNIGRI, Russian State Cadastre of Mines) according to the Russian standards and are comprised of:"
I bet the green boxes wish that they had as many beans as there are ounces at Eurasia!
Now remember, this agreement also gives full legal support for the rights over anything previously mentioned, you know, like 40Moz Palladium equivalent for example -
"The potential for the area could be 40M oz of PGMs, but as stated above this data has not been independently verified by Eurasia and other than the area covered by the Company's existing licence the Company does not yet have any other licences in the area"
Drilling, exploration, JORC etc is Eurasia independently verifying the above resources figures and anything else out there.
Even at 40Moz it is a large resource base to play with!
I'm very interested in seeing what those are saxonaxe, the options are pretty limitless when you have a decent understanding of the wider geology. They've already stated a belief of being a rival to the Bushveld -
". We have always noted the significant potential in the area which we now more strongly believe can be developed into a new global mining region for PGM to rival other large PGM producing regions of the world, including the Bushveld Complex in South Africa and the Taimyr Peninsula in Russia." :-
Christian Schaffalitzky, Chairman at Eurasia commented: 'We are pleased to offer this further update on the resource surrounding our Monchetundra Project. We are now well established in Kola with a production license valid until 2038 and our exclusivity to the flanks firmly established under applicable laws. We have always noted the significant potential in the area which we now more strongly believe can be developed into a new global mining region for PGM to rival other large PGM producing regions of the world, including the Bushveld Complex in South Africa and the Taimyr Peninsula in Russia. It is not unusual for layered mafic massif to contain multiple deposits and deposit types. The Monchepluton Massif, hosting the majority of the deposits mentioned here, is generally accepted to contain many of the internationally recognised intrusive igneous PGM deposit types. With our EPC and Financing contract with Sinosteel signed and valid for 10 years our 2 open pittable Monchetundra deposits are fully financed and we can in our opinion rapidly move into production. We have also previously stated (see announcements dated 24 October and 25 November 2019) that we are considering all options for the Monchetundra Project including the potential sale - the resource potential here mentioned, as well as our expansion strategy on the Kola Peninsula as a future palladium district are key considerations in our discussion.'
The good old ERDC, covering everything now in Kola and everything that Eurasia may take on in the future -
"The ERDC agreement will benefit both the existing projects in the Kola and future projects Eurasia might undertake in the Arctic." :
James Nieuwenhuys, CEO and Managing Director of Eurasia commented: "We have galvanized our titles to the projects and enjoy strong state support now also from state-owned ERDC reporting to Russia's President's Envoy in the Far East District and Arctic, a former Minister of Natural Resources. Altogether it results in strong political support from several government bodies that collectively strive for continuous economic development and a stable social situation and are interested in supporting investments in the Arctic, where all the Kola Projects are located. The ERDC agreement will benefit both the existing projects in the Kola and future projects Eurasia might undertake in the Arctic."
Some lovely snippets from the most recent RNS highlighting a significant and also critical company development -
"Russian laws set out the scope of measures and instruments of investment and business support in the Arctic, in particular, it provides for:
· The right of registered Arctic residents to get land lease for their projects in an out-of-auction procedure, whereby it can be the Arctic management company that grants such lease right to land plots in state or municipal ownership. This regulation considerably simplifies and speeds up the process of obtaining land lease rights (Article 15 Law 193; Resolution of the Russian Government No. 91 dated 1 February 2021 "On the Approval of the Rules of Granting Land Plots in State or Municipal Ownership and Located in the Arctic into Lease by the Management Company of the Arctic"). This enforces the titles to the projects in addition to mining related licenses and potentially speeds up the development of mines;
· Tax incentives and non-tax benefits;
· Legal defence of rights and lawful interests of registered Arctic residents by the Arctic management company (Article 17 Law 193)."
"(ii) investment and business support for Eurasia and incentives (such as tax benefits including, but not limited to a 50% reduction of mineral resources mining tax (NDPI), partial repayment from the budget of social security contributions, so that the effective current rate of social security contributions would be 7.6%; non-tax benefits (subsidised interest rates on bank loans, reduced tariffs for utilities including gas, electricity and water);
(iii) assistance with the long-term contracting of green electric energy (hydro energy) in the region (with no CO2 emissions) that will further contribute to Eurasia's ESG credentials;"
Christian Schaffalitzky, Executive Chairman of Eurasia commented: "The Directors are delighted to sign this legally binding agreement with ERDC, that helps strengthen our titles to the projects also via all the respective land plots. The ERDC Agreement is a critically important milestone in developing our strategic options both in relation to the confirmation of our ownership titles and in relation to various tax and non-tax benefits adding further value to the Company".