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Morning Ian,all.
Well done for putting me down for the RNS on our wedding anniversary, I cannot claim any credit for that.
Just sitting in the sun in Kos, reading through tne RNS.
And the more I read them the more confident I am that this is finally coming to a mega conclusion in the next couple of weeks...
Gla....
Just to add a bit.
From the March 26 RNS:-
"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:
· Four palladium, platinum, copper, nickel and cobalt open pit deposits, upon which Russian FS completed and reserves (according to the Russian standards) approved by the Russian State Committee of Reserves (GKZ).
Each of the four open pit deposits, which are located directly adjacent to Monchetundra, have already been studied by Eurasia with block modelling and open pits' optimisations performed by the Company. According to the due diligence done by Eurasia, the ores are suitable for toll treatment over distances of 5 to 8km with beneficiation and mineral processing at the proposed plant site between the Company's open pit deposits at Loipishnune and West Nittis.
( AND )
· A further five mostly open pit palladium, platinum, copper, nickel and cobalt assets are included in the JV, where Eurasia has carried out due diligence including c.20km of exploration drilling and some 12 thousand samples taken by Eurasia.
Eurasia will be the operator of the JV and, if it chooses to do so, will develop the Additional Assets by implementing an EPCF (Engineering, Procurement, Commissioning and Financing) structure similar to that signed with Sinosteel for the Monchetundra open pit mines.
In total Eurasia has already invested some US$8.3 million across the Additional Assets."
So I read that as 104moz for the first four mines that have undergone the Russian feasibility study, and, an as yet unknown amount for the remaining FIVE, although EUA has done some research on those mines!
Morning Del,
Taken from the company's own site.
"¦ Successful signing of Rosgeo joint venture
in which Eurasia will gain a 75% equity stake
in nine PGM and battery metals assets (four
of which are post Russian Feasibility Study
with state approved reserves) with a total
of 104.6Moz of Platinum equivalent (“Pt
eq”) Russian Code reserves and resources
in the immediate vicinity of the Company’s
Monchetundra Project on Kola (announced
on 26 March 2021)"
I read that statement to be the 4 of which are post Russian Feasibility Study
with state-approved reserves with a total of 104moz, they can't know about the other FIVE as yet as NO Russian Feasibility study has yet been signed off?
At least that is my understanding, happy to be corrected :-)
Download the PDF, under operational highlights, https://www.eurasiamining.co.uk/investors/financial-reports
See what you think, cheers.
Morning, Ian.
You're slipping, old son:-
You've missed an exclamation mark off the 5th paragraph.
Tee hee....
As announced via RNS of 26 March 2021, Eurasia signed a binding agreement to create a joint venture with Rosgeo in which Eurasia will own a 75% equity stake in nine PGM and battery metals assets (four of which are post Russian Feasibility Study with state approved reserves) with a total of 104.6Moz of Platinum equivalent Russian Code reserves and resources in the immediate vicinity of the Company's Monchetundra Project in the Kola Peninsula
Good morning Ian, I hope you are correct with the following statement;
“So 4 out of the 9 NEW mines we know about, amount to 104.6Moz!”
I was of the understanding that the 104.6Moz was for all 9 Rosgeo JV mines.
Good morning all
The future prospects for EUA and its shareholders are immense!
The company took the decision after being approached, to issue some more shares, (Private Placing) worth about US$15m to EUA, at a time where the company did not actually need the money, but, felt it prudent to do so, and to add to the company coffers for the upcoming Joint Venture!
The company had circa US$20m and no debt, subsequently, after the placing, the company will have US$35 in its coffers!
The Placee, actually wanted to purchase MORE stock in EUA, but EUA refused, wanting to keep dilution to a minimum!
This money EUA now has at its disposal for the Joint Venture COULD be used to buy out Rosgeos 25%, to enable EUA to have 100%, of the new NINE more mines in the J/V.
The company thought that the new J/V COULD be worth 104m oz, but if it found that it could be able to produce MORE, might be worth grabbing the remaining 25% if it could!
So EUA doesn't need the money for the day to day running, but, when this golden opportunity turned up, felt inclined to go for it!
EVERYTHING, the company has done recently has INCREASED shareholder value!
Don't just take a pessimistic view of the small in the scheme of things share dilution!
Look at the bigger picture, this cake is now massive, and your share of the cake has subsequently grown!
The company would not wipe £m off its value by issuing some extra shares if there was NO reason for it!
They told you that in a previous RNS, only accretive deals would be the reason for the issue of MORE shares!
It is all spelt out there for you in the past RNSs!
The longs see this company is going places, those of a get rich quick nature may have a small wait on their hands!
Things are moving along at a great pace now with the three wash plants and electric shovels, so let the company get on with the day job, and the sale will naturally follow!
You INVESTED in this company to do very well, and it will, I can assure you!
Those looking at the latest RNS will have noticed how very upbeat it sounded, and that only a very specific amount of cash was required towards the J/V?
Also from the companies report!
The successful signing of the Rosgeo joint venture in which Eurasia will gain a 75% equity stake in nine PGM and battery metals assets (four of which are post Russian Feasibility Study with state-approved reserves) with a total of 104.6Moz of Platinum equivalent!
So 4 out of the 9 NEW mines we know about, amount to 104.6Moz!
Leaving another FIVE mines that we DON'T know about!
Now, we know nothing is so simple as to just say if four mines produce 104moz, then nine might produce 234moz!
But you never know :-)
We do not know what the BOD have seen that have made them go for it, one day soon we will :-)
I found a video, their Septic Lil looks amazing, too much grog!
https://www.youtube.com/watch?v=OG0AvwM_QAI
Cheers.