Eurasia Mining PLC - UK-based mining & mineral exploration company - Announces creation of first joint venture company between it and Rosgeo, known as Monchegorskoe LLC, which will hold the licence for the Nyud open pit platinum group metals and battery metals deposit.
In late March, Eurasia signed a binding agreement with Rosgeo in which Eurasia would own a 75% equity stake in nine assets with a total of 104.6 million ounces of platinum equivalent reserves in the vicinity of Monchetundra project in Kola Peninsula.
"We are enthusiastic to create a globally significant PGM and battery metals company with our partner Rosgeo, a large internationally diversified company. We are using the momentum of hydrogen and EV markets growing fast on the one hand and the traditional PGM regions struggling with various challenges including underground mine floods and limited electricity supply on the other hand. This year of 2021 is unprecedented for Eurasia in terms of the Rosgeo JV completion," says Managing Director James Nieuwenhuys.
Current stock price: 22.10 pence
Year-to-date change: down 34%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Eurasia Mining (EUA)