Eurasia Mining PLC - UK-based mining & mineral exploration company - Says mining plan has been completed for the first five years of the life of mine of Loipishnune open pit and the West Nittis open pit, both of which form part of the Monchetundra project in Russia. Notes phase one of annual ore production was increased by 1.7 times to 1.7 million tonnes per annum compared to Russian Feasibility Study.
Says a revised production profile resulted in metal grades in the first year of production of 2.6 grammes per tonne of palladium and 3.5 grammes per tonne in total of palladium, platinum and gold at West Nittis open pit mine. Further, revised production profile at Loipishnune resulted in 1.8 grammes per tonne of palladium and 3.1 grammes per tonne in total of palladium, platinum and gold in the first year of production.
Current stock price: 26.00 pence
Year-to-date change: down 23%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Eurasia Mining (EUA)