Transcribed extract from Dmitry interview regarding 40moz9 Nov 2019 15:07
Q. Well your strategic adviser Alexei Churakov put out this number of 40moz how does that come about?
A: What Alexei meant, on the Kola peninsula there have been a number of exploration taken place. So It's not only us - it's ANGLO AMERICAN that has been doing extensive exploration programme within a big chunk of land, which WE ARE GRADUALLY GOING TO APPLY FOR. Also, there have been [Norilsk Nickel], as I mentioned, doing exploration. Then the [Barrick] doing the exploration, again, on a big licence. A palladium licence. And some other players.
And we are looking at those projects as well, because as a mining company our MAIN business is to produce the metal - which we are successfully doing - at our operating mine. So we've proved that we can do it, and we've done it before on a different project, our team members.
And then, basically, our second job is to continually increase in our resource base. And we are looking at different options, and what Alexei mentioned was that there are A NUMBER OF DEPOSITS which are CLOSE TO OUR deposit WHICH in total have this "40 moz" so that's what he meant.
Q: Is that on top of the "15moz" or "Total"?
A: Can't speculate [total?] That's something we are looking into, right. So once we apply for those areas - and we will go through a step by step standard licencing process, which we have been doing before - so once APPLIED for those areas, WE WILL DISCLOSE ALL THE DETAILS (Now, as a director, I wouldn't speculate about that).
Q: But have you begun the process of Applying, then?
A: Well, the process of applying basically consists of piling together quite a significant amount of documentation. And, of course, through the process of looking at different projects, we are first accumulating this information and ONCE WE ARE READY, we apply- because applying [is like clicking a button] but, the preparation work needs to take place first.
ADDITIONAL NOTES FROM PREVIOUS RNS':
Tue, 26th Mar 2019 11:26 [RNS Number : 0459U]
Eurasia's Monchetundra Project occurs at the triple junction of three major igneous massifs, namely
The Monchetundra Massif
Monchepluton Massif and the
NKT (Nittis Kamushnaya Travanya Massif)
Significant exploration and mining have occurred in these massifs in the past, including exploration and open cast and underground mining in base metals including Nickel and Cobalt, as well as PGM, mostly Palladium
Eurasia's focus will be on potential additional areas' prospectivity in terms of Palladium, Nickel and Cobalt.
TGK, Eurasia's 80% owned subsidiary, and the holder of the Monchetundra Mining Permit can apply uncontested for areas on the 'flanks' of the existing license which do not contain an approved reserve and are within 5km of the current mining license.
TGK can also apply for areas on the flanks of the license where a state approved reserve is already registered, though this can be contested.
Other company's applying for areas within the 5km flanks
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