George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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You'll also see NYUD on that map, the area that has had a PFS done on it back in 2015-2017:
"Since the final approval of the Flanks licence (see RNS of 25 August 2020) the Company has been putting together the database of information from previous drilling campaigns in the Flanks area, that is considerable. 48,405m drilling (announced via RNS of 18 August 2020) is related only to one part of the Flanks License (NKT) and comes on the top of 33,100m drilled by Eurasia's Joint Venture with Anglo American Platinum. The Russian feasibility study on the NKT palladium dominant mine (within the boundaries of the Flanks License) gives 15% IRR at the palladium price of $659 per 1 oz, while the current palladium price stays above $2,000 per 1 oz due to long term structural deficit in the palladium market."
https://www.lse.co.uk/rns/EUA/interim-report-z4vq8goh3rc2usr.html
"Our predecessors also developed targets in the NKT area, and areas to the east of the Loipishnune deposit, and these work programmes in 2015-2017 resulted in pre-feasibility studies lodged with the State Cadastre of Mines in Russia."
https://www.lse.co.uk/rns/EUA/general-update-and-institutional-placing-at-225p-yh2uz9tcbjepr54.html
"Feasibility studies and scoping prefeasibility studies were completed for development, geological study and mining operations at the following deposits:" -
"NKT and NYUD PGM occurrences, Monchegorsk ore district, Murmansk region, JSC Severo-Zapadnoye PGA."
http://www.tsnigri.ru/en/otdel-geologo-ekonomicheskoj-otsenki-mestorozhdenij.html
It's another area known to have the positive Rhodium anomalies -
"Kumuzhya, Nittis and Nyud lithologies also show positive Pd and Rh anomalies and relatively high Pd/Ir ratios of more than 20 (Fig. 14 C, D, E). "
https://orca.cf.ac.uk/112128/1/Critical%20Controls%20on%20the%20Formation%20of%20Contact-Style%20PGE-.pdf
GLA
See here for a map of the areas. This one's all to do with Monchtundra's own mineral Monchetundraite -
https://www.researchgate.net/figure/Simplified-geological-map-a-and-location-b-of-the-Monchegorsk-Igneous-Complex_fig1_339079075
GLA
336 tons is over 100m oz. At the $2000 average per oz, that'd be over $200B.
That's just Poaz Jono, one part of the wider Monchegorsk area over there. Copper, Cobalt, Nickel and REE's fall into what's under Eurasia's area that it has first mover advantage over.
GLA
336 tons of palladium and platinum. At say average price of 2000 dollars depending on make up is around 25 billion dollars.
Comprehensive analysis to bolt on to all of the Rosgeo work was done by Eurasia themselves back in Anglo JV days. What Rosgeo (our JV partner) have done is all exploration and data on top of that -
"Eurasia is pleased to announce the results of its 2009 drilling and exploration programme, comprising a comprehensive analysis and interpretation of its Monchetundra (36.2km2)"
"Monchetundra
To date, 16,121m of drilling have been completed on the licence, with most of the intersections from the last phases of drilling having been previously announced in early 2009 as a table of results, without accompanying geological comment. Subsequent work during 2009 focused on an interpreted ore structure in the Loipishnyun sub-area, stemming from recent drilling, but also included several previously unreported intersections."
https://www.lse.co.uk/rns/EUA/exploration-update-kola-lm3av5onl7erthw.html
The explored PGM district, nothing better to have first mover advantage over, nothing better at all!
GLA
"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:"
https://www.lse.co.uk/rns/EUA/binding-agreement-signed-with-rosgeo-664vj174ti35e5h.html
The third party link that relates to that new FS which increased Resource figures -
"After the completion of all work, both the main resources - platinum group metals and associated components - nickel, copper and gold will be accurately calculated. The end of the research is scheduled for December this year."
"K. Firstov, head of North-West PGO, explained that as a result of research work at Poaz, the uniqueness of the deposit was confirmed, according to preliminary calculations, the deposits of platinum and palladium are about 336 tons (category P2), which is much higher than the initial forecasts."
https://www.vnedra.ru/novosti/rosgeologiej-okoncheny-burovye-raboty-po-obnaruzheniyu-metallov-platinovoj-gruppy-na-territorii-murmanskoj-oblasti-10745/
The area is thoroughly explored, Rosgeo have been going hammer and tong on it for years now.
GLA