LONDON (Alliance News) - Metal Tiger PLC on Wednesday said it has exercised its option to participate in the Semenovsky Tailings Project gold production opportunity in Russia with Eurasia Mining PLC.
Metal Tiger will pay up to USD100,000 for due diligence, USD50,000 of which has already been paid in option fees.
Eurasia also released a statement confirming the partnership.
"The board of Eurasia Mining believe that the project offers a very attractive opportunity to move into production generating revenues and cash inflow, something that investors are increasingly keen to see in the junior mineral equity space," Managing Director Christian Schaffalitzky said.
Shares in Metal Tiger were trading down 0.6% at 2.51 pence on Wednesday, while Eurasia Mining shares were up 1.4% at 0.710p.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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Eurasia Mining (EUA)