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OK Mac so they followed your process for Nyud (part of the JV) they completed DFS and Jorc prior to applying for the Licence
As per RNS
"The Company is pleased to announce that the first joint venture company, Monchegorskoe LLC, was created to hold the licence for the Nyud open pit PGM and battery metals deposit ("Nyud"). Eurasia's 100% subsidiary Yuksporskaya Mining Company / Yuksporskaya Gornaya Kompaniya ("YGK") has signed a notarised agreement with Rosgeo Group company pursuant to which YGK will become a 75% shareholder in Monchegorskoe LLC after the licence for Nyud is transferred from Rosgeo to Monchegorskoe LLC. Euraisa, through YGK, will also have a right to acquire Rosego's 25% shareholding in Monchegorskoe LLC upon the completion of a JORC Code compliant competent persons report on Nyud."
So for you to be right where is the Nyud DFS - it is the only way according to you but not seen them as the draft is still with BOD and Licence Still with Rosgeo but as per the above they signed a notarised agreement to secure Nyud which they can do for the rest up to 31st March 2023, just complete the same reviews they did at the time for Nyud if they wanted to and activate the other 8 JV projects!
GLA
This does not sit in an RNS but in the Financial Accounts on page 9 so as not to miss lead.
Page 9 refers to Monchetundra which IMO is the 2 red areas on the Map (WND and LD). When they mention "Definitive Feasibility study on schedule for submission in 2022" they are referring just to those IMO.
The Old MT Flanks is the NKT area on page 10 of the report and DFS/Jorc completed already for the Red area.
Nyud Licence paid for and draft DFS complete as per RNS.
IMO Hold up due to DFS/Jorc of WND and LD and then all 3 areas completed (WND, LD, NKT and Nyud) all to hopefully be sold to whoever have completed DD.
As per initial RNS "Eurasia has 24 months in which to decide whether to select some or all of the assets to develop. If Eurasia determines not to proceed with any assets, no consideration would be due beyond the Initial Consideration" so they just need to do the same as they did for Nyud and apply for any of the projects prior to March and then complete the same process as they are doing for Nyud which could take another year for WAI to complete DFS and Jorc etc.
All IMO
GLA
Technically incorrect Mac, as per your post
‘However, it is noted that Alexander will receive 10% share in Deloan Investments Limited ("Deloan")’
Not sure what else Deloan hold but his share of EUA at 5p a share is worth £1.35m alone, Deloan holding 275m. Unless when he was gifted his 10% there was a restriction not allowing him to sell his 10% until EUA was sold he could have sold any time and still could and as you say get or have been paid selling his 10% of Deloan.
GLA-the wait goes on
Just need some of the promised updates
Eurasia Mining
@eurasiamining
·
Jan 14
Kola Nickel marks the start of our plans for 2022, with much more to follow as we successfully conclude our initial strategy and develop EUAv2.0 https://bit.ly/34KusJv
https://mobile.twitter.com/eurasiamining/status/1482004609698865154
Nickel is now the main metal in Eurasia's basket of metals (on a Net Smelter Royalty basis) following the JORC Mineral Resource Estimate produced by Wardell Armstrong International at NKT. Work is being finalised on the high-grade veins part and the open pit part of NKT, as well as on the assaying to upgrade the resource to be separately announced in due course (please refer to RNS dated 16 December 2021).
· Kola Nickel LLC was incorporated as Eurasia's 100% beneficially owned subsidiary in order to carve out all the nickel assets of Eurasia into one subsidiary company.
· Similar to NKT, Nyud's main metal is also nickel. Nyud is included in the agreement with Rosgeo (for more information on Nyud please refer the last bullet point below and RNS of 26 August 2021).
· Wardell Armstrong International was engaged by Eurasia to produce JORC Mineral Resource Estimate at Nyud, as well as a CPR and net present value model. The results of this engagement is almost complete and will be announced separately.
· Like NKT, Nyud is a nickel open pit mine previously operated by Norilsk Nickel. A trial open pit was developed at Nyud by Norilsk Nickel and nickel dominant ore was shipped directly to Severonickel, the world's largest nickel processing plant. Similar to NKT, the Nyud area is well served with the infrastructure required for the relaunch of mining and processing and the tailings will be used as backfill for the old NKT mine developed in the past, following the best practices in ESG and saving on the tailings storage facility capital expenditure.
Nyud being a nickel mine kind of contradicts the use of NN new copper plant and infrastructure but it does contain copper.
No idea of the DFS delay as results were almost done at end of January for Nyud - long time to proof read! maybe they found massive grades and needed more drilling to confirm as why mention nearly complete. Who knows!
GLA
Lumber Jack still at work! I think the old 'new' area top right was roughly 50 football pitches so southern area must be nearer 70 by now.
https://apps.sentinel-hub.com/sentinel-playground/?source=S2&lat=59.53610219447282&lng=58.926029205322266&zoom=14&preset=1-NATURAL-COLOR&layers=B01,B02,B03&maxcc=6&gain=1.0&gamma=1.0&time=2022-01-01%7C2022-07-25&atmFilter=&showDates=false
GLA
Hi LB, Mac posted this tweet of area/map which I think is the Same as RD tweet
https://mobile.twitter.com/pw_lx/status/1540224346119192578?s=20&t=z16U_T2jGXXPhu6xfkR7Cw
GLA
Evening all, apologies seems I was unaware and need to go back to school on co ordinates.
Hi Mac, I see! You either know or you don’t
Hi Saint, can’t read the reply as blocked unless RD allows you to view but presume it says what Mac has said
GLA
This area does not exist on the new TpI update on the Rosendra file that updated on the 21st June
https://www.rosnedra.gov.ru/article/12771.html?mm=289&ml=121
Point within the boxed area has coordinates 67.94,32.81 (just type into google maps with full stop and comas in the right place)
https://www.google.co.uk/maps/place/Monchegorsk,+Murmansk+Oblast,+Russia/@67.9351102,32.7797252,13.13z/data=!4m5!3m4!1s0x4431761ebd85e72b:0xdbf5f7a54ca1b697!8m2!3d67.943134!4d32.8919562
The only 4 licences in Murmansk under consideration are in these areas from TPI file
67.54,32.52
67.52.32,55
67.56,32.47
67.56,32.48
https://www.google.co.uk/maps/place/67%C2%B031'12.0%22N+32%C2%B033'00.0%22E/@67.6936185,32.374009,9.97z/data=!4m5!3m4!1s0x0:0x4e490a8db111b4cd!8m2!3d67.52!4d32.55
No where near the boxed area on the tweet or Travanya area
GLA
Shows how long we have been waiting. 15months and not one licence as yet!
Not sure if it has been discussed but could the hold up be that Rosgeo/state are not happy (too low) with the Jorc numbers that the BOD have received for Nyud with underpins the amount EUA will have to pay for the 25%. additional stake (Rosgeo wanting more cash for the 25%). Could explain why the licence has not been released by them as of yet and the reason 'ongoing discussions continue'
'The Company is pleased to announce that the first joint venture company, Monchegorskoe LLC, was created to hold the licence for the Nyud open pit PGM and battery metals deposit ("Nyud"). Eurasia's 100% subsidiary Yuksporskaya Mining Company / Yuksporskaya Gornaya Kompaniya ("YGK") has signed a notarised agreement with Rosgeo Group company pursuant to which YGK will become a 75% shareholder in Monchegorskoe LLC after the licence for Nyud is transferred from Rosgeo to Monchegorskoe LLC. Euraisa, through YGK, will also have a right to acquire Rosego's 25% shareholding in Monchegorskoe LLC upon the completion of a JORC Code compliant competent persons report on Nyud.'
https://polaris.brighterir.com/public/eurasia_mining_plc/news/rns/story/w959y1r
From Financial report
'Eurasia will be the operator of each joint venture asset and will develop the additional assets at its discretion. By 31 December 2021 the Company had invested RUB37,180,000 (£367,464 at a prevailing exchange rate at the reporting date) out of total RUB169,000,000 in respect of the Nyud license and project. Discussions with Rosgeo regarding the project’s development are ongoing concurrent with CPR compilation including JORC compliant mineral resource estimation and NPV computation by Wardell Armstrong International, Engineering and Mining consultancy firm. The Nyud project is being used by the Company as the template for the remaining assets, which will only be evaluated after the successful conclusion of the Nyud project.'
GLA
Hopefully get an RNS with questions and answers
Last year it was released 3 weeks after AGM announcement and 9 days prior to AGM so within that window now but then again may get nothing until the day
https://polaris.brighterir.com/public/eurasia_mining_plc/news/rns/story/w3zq53r
https://polaris.brighterir.com/public/eurasia_mining_plc/news/rns/story/w1nmq3x
GLA
Hi LB, yes remember the chat but that was a different application but seems both were in the same area. The apparent NKT extension coordinates being way further south next door to the one we were discussing. That one is still under consideration as well.
3048 Sevzapnedra 27.04.2022 09:00:00 At the expense of own (including borrowed) funds of subsoil users without being included in the list of objects 264 Ore occurrence Nyud-Moroshkovoe copper; nickel; platinum; palladium; Murmansk region 12.6 1 67 54 16.4998 32 52 15.0929 Under consideration
GLA
Morning All,
So Rosendra site has updated today
This entry is still under consideration.
https://www.rosnedra.gov.ru/article/12771.html?mm=289&ml=121
540 copper; platinum; gold; palladium; Murmansk region 3.48 1 67 56 08.29 32 47 00.95 Under consideration
Now i took it for granted that this was the NKT extension area as per tweet below
https://mobile.twitter.com/R1EXG/status/1488442968067428367
I thought i would plot the area to see if anything had changed. Now if you fire up google maps and type coordinates in row one on the highlighted table in the tweet (67.56,32.47) the actual place is no where near what the tweet is showing in the picture.
Unsure this entry has anything to do with us unless I am doing something completely wrong.
Why the inaccurate tweet I do not know but I took it at face value as they were normally spot on with licence stuff - lesson learnt - believe nothing
GLA