Eurasia Mining PLC - Russia-focused mining and mineral exploration company - Incorporates 100% beneficially owned subsidiary Kola Nickel LLC, following the Tier-1 scale JORC mineral resource estimate produced by Wardell Armstrong International at NKT, a nickel mine formerly operated by Norilsk Nickel.
"Tier 1 scale" means deposits that are "company making". They are large, have a long life and low cost.
Nickel is now the main metal in Eurasia's basket of metals. Says Kola Nickel LLC was incorporated as Eurasia's 100% beneficially owned subsidiary : in order to carve out all the nickel assets of Eurasia into one subsidiary company".
"The directors are focused on further prioritising nickel as Eurasia's main metal, while we consolidate formerly operating nickel mines in one subsidiary company. We continue to observe significant interest in nickel dominant mines," Chair Christian Schaffalitzky says.
Current stock price: 27.80 pence, up 10%
12-month change: down 9.5%
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Eurasia Mining (EUA)