Member Info for ceejay1awest

Downtothebone,

Excellent! The big boys know the score. It's funny, maybe JR should be on the phone to them, they might need his advice! LOL

Eurasia Mining PLC (LON: EUA) has updated on the definitive feasibility study (DFS) for its West Kytlim mine project in the Urals where final approval of the key document is now expected this month.

The company noted that the DFS has now been approved by the working meeting of the Russian State Committee on Reserves.

It said final DFS approval will be an important milestone for the project, because it will eliminate single asset risk – by unlocking production across several pits – and will allow concurrent mining that will enable increases in production volumes (versus a sequential approach to mining the deposits).

Importantly, approval of the DFS will allow all-year-round mining operation for stripping, earthmoving and mining activities. It will mean that during winter months, when the water source is frozen, the company will be able to prepare ore stockpiles for treatment in the next processing season.

"The directors are delighted with the finalisation of the DFS and the approval process aimed at production increase in these exciting times for PGMs especially for palladium and rhodium,” said executive chairman Christian Schaffalitzky in a statement.

“The company is committed to its strategy, while also adding value to its projects. Further announcements will be made in due course".

Presently, whilst DFS preparation and approvals were the main focus, the company noted that it has also begun preparations for 2021 early.

It noted that 1,525 ounces of raw platinum was produced this season and looking to 2021 it expects to learn some lessons from last year - when it was impacted by a delayed permit.

Efforts included the preparation of technical project documentation for 2021 production, early application for permission from forestry authorities, acquisition of additional equipment to increase the production volumes in anticipation of the concurrent mining at several open pits and early stripping, earthmoving and stockpiling activities.

Additionally, the company said it has put in place strict measures in relation to prevention which allowed for zero coronavirus (COVID-19) cases at West Kytlim production sites.

All positives from this company, they know what they are doing JR does not!

@TheMarquis,

That is a great post!!

Parsley,

I'm not blinkered by anyone on this board. I've been in since 1p. I have a six figure return from this presently. waiting on it becoming 7. Thanks for your concern though, it means a lot to me that a stranger cares about my investment as much as you and your bum chum Calamari.

ATB

Calamari,

Which you have none of so wtf are you talking about?

Parsley - A resource is the amount of a geologic commodity that exists in both discovered and undiscovered deposits. They will soon become reserves upon the DFS arrival. That clear enough for you?

Stop antagonising people who are excited about their investment here. Stop arguing with everyone. we don't want to hear your negative views. people on here want positivity and useful information. if you can't post any, jog on to another share where you can.

OK

Because there is far more resource than that and that is why GIP are shoring up what we all know is there with the definitive study

This is what they are doing!

Christian Schaffalitzky, Eurasia's Executive Chairman commented: "This reorganization is designed to optimise our execution team. We are delighted that James has agreed to take on the CEO role. James's focus will be to work with our advisers on the sale process. Since joining Eurasia in November 2019 after completing due diligence on behalf of a potential buyer, James has got detailed knowledge of Eurasia's assets and he is of immense help both in terms of the sale process and in terms of demonstrating to the interested parties the strength of our own management team and its capacity to execute. Dmitry changes his routine Board roles for the role of Chief M&A Officer and together with James will strengthen the management team involved in the work streams with several interested parties. We are grateful to Dmitry for his long-term hard work on the Board level over 10 years and the Directors look forward to working with him in his new capacity".

That is because this is not a run of the mill sale. We were informed of multiple parties interested in July. The more punters the longer it will take and nothing of this magnitude has been up for sale in a long time!

JR Ewing?.... No! JR Hartley?.......No! JR Shorting....... Yes!!! Tut tut,

https://pubs.usgs.gov/of/2004/1224/2004-1224.pdf

https://pubs.usgs.gov/of/2004/1224/2004-1224.pdf

BTW,

The last paragraph is what we are waiting for!

Below are Just some key points to remember whilst everyone is wondering why this is taking so long. It's mammoth, that's why!

The total amount controlled by Eurasia and under flanks exclusivity right application is c.15Moz of PGM as per the State Cadastre with an additional c. 4Moz also within the 5km exclusivity area.



Further potential resources of c.21Moz in established and unlicensed resources and reserves in the district surrounding the town of Monchegorsk, that is located 8km from Monchetundra.



The Pd to Pt ratio in Monchetundra production license varies from 1.7 to 5.8 Pd/Pt ratio, a similar range is observed in the flanks area.

The Company and its working partner CKE (CKE works with Eurasia and also Norilsk Nickel, Nord Gold, Barrick and other miners on Kola) also maintain databases on the regional prospectively and projects. In addition, the Company sought further information from the Murmansk Archive for Geological Information, the regional state cadastre of mines, to obtain the current knowledge base of resources and reserves within the 5km perimeter of the mining rights, in what is a well-established mining area with numerous ore bodies occurring in an 'cluster' at the contact between two mafic and ultra-mafic layered massifs. The Company's proprietary information was compiled with the official geological archive, in considering the best area to apply for as a flanks application. The Geological archive is a sub-division of Rosnedra, the Federal Agency for subsoil use, and is mandated by law to maintain the state Cadastre of mining deposits, which is essentially a government inventory of the state resources, according to prescribed procedures, including review by an expert panel of independent resource professionals. The data contained in the official Geological archive forms the basis for this RNS.



The above resources have been compiled by the Murmansk Geological Archive and represents the current database of resources in the immediate area of the Monchetundra production license.



In relation to additional 25Moz (those resources in addition to the 15Moz of PGM in Monchetundra and its flanks) the information contained in the State Cadastre has not been independently verified by Eurasia and it is therefore provided for guidance purposes only. The Company would need to verify the data in the Russian Cadastre through additional work and drilling, if it was to incorporate the data into the defined resources of the Company (as required by the relevant mining standards and the AIM Rules). The Company may undertake such work as and when it is deemed necessary and, in any event, if it determines to progress with expanding the operations of the Company; building upon the data sets already established by previous licence holders.

In relation to additional 25Moz (those resources in addition to the 15Moz of PGM in Monchetundra and its flanks) the information contained in the State Cadastre has not been independently verified by Eurasia and it is therefore provided for guidance purposes only. The Company would need to verify the data in the Russian Cadastre through additional work and drilling, if it was to incorporate the data into the defined resources of the Company (as required by the relevant mining standards and the AIM Rules). The Company may undertake such work as and when it is deemed necessary and, in any event, if it determines to progress with expanding the operations of the Company; building upon the data sets already established by previous licence holders.



Sinosteel



The Company also has in place an EPCF (Engineering Procurement Construction and Financing) contract with Sinosteel, a state-owned Chinese corporation. This agreement fully finances the project. This financing can be drawn down at the option of the Company.

Excellent!!!

I had the same dream, it was $10b

RNS at 3.20pm on Xmas eve stating we have been offered 350p per share.....Yeeeehaaa. :D

There's always 7.30 lol

Well said Mac, I've been here since 2018. That's what annoys these worms. Jealousy over money....terrible thing