Update with respect to the Rosgeo Agreement2 Mar 2023 13:26
News this month on the sale. Cheap as chips!
Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, notes the recent share price increase and speculation regarding the Nyud licence. The Company notes that the Nyud exploration licence was granted to OOO Monchegorskoye in mid-December 2022, a company established and owned by Rosgeo.
The Nyud exploration licence is adjacent to the Company's mining permit in Monchegorsk, Kola Peninsula Russia, and was applied for and progressed by Rosgeo. OOO Monchegorskoye was incorporated by Rosgeo for the purposes of establishing a joint venture to develop the Nyud Project with Eurasia's 100% owned subsidiary Yuksporskaya Mining Company, pursuant to the agreement between Rosgeo and Eurasia as announced 26 March 2021.
Any further developments in the Rosgeo agreement are being considered and would take place in the context of both Eurasia's sale of assets process as outlined in previous updates to market, as well as the sanctions environment, following recent (December 2022) updates to both UK and EU legislation.