RE: Fabulous update, NT to buy28 Jul 2025 14:33
Eurasia Mining plc
West Kytlim Operation Update and AIX Progress
Eurasia Mining PLC ("Eurasia" or the "Company"), the iridium, osmium, palladium, platinum, rhodium, ruthenium and gold mining company is pleased to announce an update on West Kytlim operations.
Highlights:
· West Kytlim is the world's largest soft-rock PGM mine with associated gold.
· It is the largest in terms of reserves and resources as well as the largest in terms of production volumes since 2022, when the mine was put into industrial-scale production.
· West Kytlim operations consist of 12 mining assets, five of which have been successfully launched into commercial production.
· High precious metals grade in the concentrate produced at the mine is above 80%.
· It is the lowest cost PGM operation on the global scale with All-In Sustaining Cost (AISC) targeting the range of $300-400 per troy oz.
Highlights of key factors for low cost:
· Open-pit mining does not require drilling or blasting operations, which typically account for 1/3 of the total cost. This absence of the need to drill and blast means that West Kytlim's cost is 1.5x lower with all the other factors being equal.
· Stripping ratio is as low as 3x on average.
· Transition of production to electricity has been completed: power lines and substations, electric dragline and enrichment plants shift from diesel generators to electricity.
· Recruitment of employees in single-industry towns without the need to pay 'northern' and 'polar' bonuses due to favourable geographical location in the Urals.
· Optimisation of logistics and reduction of transportation distances.
· Significant capacity increase in 2025 with economies of scale driving the per unit cost lower.
Highlights of capacity increases in 2025:
· To execute on our Russian-exit strategy, the licences must be maintained in good standing, and the West Kytlim licence agreement requires a significant increase in volumes.
· A professional team with backgrounds in Rusal, Norilsk Nickel, UMMC (UGMK) and other large companies was engaged to execute on the increase and subsequent exit.
· As required by the licence agreement, six wholly-owned enrichment plants have been successfully launched to full commercial scale production, i.e. 2x the previously installed enrichment capacity and 6x the average enrichment capacity utilised over the past two years.
· A fleet of seven heavy 39-ton Chinese FAW trucks has been added to scale up both stripping and mining capacity. All seven trucks are in operation, making the total truck capacity 2-3x the capacity of KAMAZ trucks used previously and with improved production logistics, a net 20x improvement. This is primarily due to significantly shorter transportation distances to optimised locations of the six enrichment plants relative to the mining blocks.
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