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LONDON (Alliance News) - Eurasia Mining PLC shares surged higher on Wednesday after the company said it has been given a discovery certificate for a 21.5 kilometre squared area of alluvial platinum reserves on its West Kytlim exploration licence.
Eurasia said the certificate has been awarded for a new discovery of platinum at the Tylai-Kosvinsky Placer on the West Kytlim licence in the Urals in Russia.
It gives Eurasia exclusive rights to apply for a production licence for the site. It said a mining licence application has been lodged.
"We are delighted that we have received this award as it provides us with a secure base on which to build our mine. In receiving this certificate, it allows the company to attribute value to the project for the first time," said Eurasia Managing Director Christian Schaffalitzky
Eurasia shares were up 15.8% to 0.55 pence in early trade, making it one of the best performers on the AIM All-Share index.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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