RE: Mining Update17 May 2023 13:22
TD2,
a TEO is a feasibilty study equivelant and it was submitted in DEC 2016 for MT as per this RNS ,
http://otp.investis.com/clients/uk/eurasia-mining/rns/regulatory-story.aspx?cid=403&newsid=831270
Eurasia Mining plc (AIM: EUA)
Projects Update and Semenovsky Metallurgical Study Results.
Update on West Kytlim and Monchetundra Projects
Monchetundra
A Feasibility Study "TEO" (Technico Economicheskiye Obosnovaniye or Technical and Economic Feasibility) was officially submitted today (22 December 2016) for approvals at the State Commission on Mineral Reserves ("GKZ"). This document, considered equivalent to a 'Western' feasibility study, documents the economic extraction of the reserves already identified at two open pit targets on Eurasia's 80% owned Monchetundra License. The reserves, when approved, will represent the maiden reserves defined for the license. In addition, an Engineering Procurement and Construction (See RNS dated 10 October 2016) contract ("EPC Contract") is already in place with Sinosteel, a Chinese state owned group operating primarily in mining, trading, equipment manufacturing and engineering. The signed EPC Contract has an obligation for Sinosteel to provide $150m financing, subject to certain conditions, with production to commence on a turn-key basis by Sinosteel.