Eurasia Mining Share News (EUA)

Shares in AIM-listed Russian miner Eurasia Mining rocketed on Thursday afternoon after the firm was able raise its estimated reserves at its West Kytlim alluvial platinum project by 81%.The company said that the Federal Agency for Natural Resources has approved two further areas of additional reserves of C2 classification as defined by the Russian Standard within the Tylai-Kosvinsky (TK) Placer.Eurasia said that its resources estimate for the new areas totals 612kgs of contained platinum.Shares were 21.62% higher at 1.12p by 15:11.However, the firm said that it is still awaiting the approval for its first production licence."As a result of this delay, it may be possible to combine the two new areas into one revised application. Such a possibility is dependent on the relevant authorities involved in the approval process."BC