keep to the top18 Oct 2020 21:28
I am re posting MAC4671's post from earlier to keep the bots off the top,
just one word comment will keep this at the top as it must be nearly their bedtime soon, hot chocolate and mummy will tuck them in
What any newer investor needs to understand, is the 13Moz 'exploration license' is a bit of a red herring. There has been quite a lot of exploration done on the flanks area -
"Since the final approval of the Flanks licence (see RNS of 25 August 2020) the Company has been putting together the database of information from previous drilling campaigns in the Flanks area, that is considerable. 48,405m drilling (announced via RNS of 18 August 2020) is related only to one part of the Flanks License (NKT) and comes on the top of 33,100m drilled by Eurasia's Joint Venture with Anglo American Platinum. The Russian feasibility study on the NKT palladium dominant mine (within the boundaries of the Flanks License) gives 15% IRR at the palladium price of $659 per 1 oz, while the current palladium price stays above $2,000 per 1 oz due to long term structural deficit in the palladium market."
https://www.lse.co.uk/rns/EUA/interim-report-z4vq8goh3rc2usr.html
"Extensive prior drilling campaigns with c.48,000m drilled at NKT, a part of the Flanks application."
"Our predecessors also developed targets in the NKT area, and areas to the east of the Loipishnune deposit, and these work programmes in 2015-2017 resulted in pre-feasibility studies lodged with the State Cadastre of Mines in Russia."
https://www.lse.co.uk/rns/EUA/general-update-and-institutional-placing-at-225p-yh2uz9tcbjepr54.html
It's what makes things very interesting, even a PFS done on the NKT area of the flanks is a pretty huge addition to knowing what's there and if it's economic to extract.
GLA