Stork spinner16 Dec 2021 09:10
Stork maintains it adds no value - it is adding JORC Tier 1 value that was not there before .
You just twist and BS .
You fail the facts
EUA - Jubliant
Just the start - this is the smallest JORC part -Investing.com – Eurasia Mining (LON:EUA) shares were trading higher on Thursday after the company announced that Wardell Armstrong had declared a tier-1 scale JORC mineral resource estimate at its Nittis-Kumuzhya-Travyanaya (NKT) nickel dominant nickel-copper-PGM mine. The mine was previously operated by Norilsk Nickel.
NKT is located within the license area held by Eurasia's 80% owned subsidiary in Kola, TGK, immediately to the north of the TGK-owned West Nittis open pit deposit already licenced for mining, where the mining plan has now been developed for the life of mine.
Wardell Armstrong has estimated the mine is tier-1 scale with 305Kt of Nickel, 143Kt of Copper, 57 tons of platinum group metals and gold. Wardell Armstrong estimates these reserves as JORC compliant, the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The code is conventionally used on international markets.
Nickel is the main metal comprising half of the value in the metal basket on a Net Smelter Royalty basis.
The AIM-listed company said about two-thirds of the resources have been defined as reserves under Russian classification by Norilsk Nickel, however, the drill core and the trenches have only been analysed for the base metals and not for the platinum group metals, thus limiting the classification to inferred under the JORC Code due to the application of regression formulas for PGM. Once all the PGM assays have been completed, this data will be used for re-estimation and re-classification providing additional upside for the next NKT mineral resources estimate update.
In order to further upgrade the resource, Eurasia has engaged with SGS and Alex Stewart International for primary and secondary controls of the PGM assays on the historical drill core and the trenches by Severonickel / Norilsk Nickel as well as on the additional confirmatory drilling just done by Eurasia on NKT.
“The Directors are jubilant to complete an important milestone of our first of a series of JORC mineral resource estimates, that the WAI team has been working on since April this year,” said Eurasia Mining Executive Chairman Christian Schaffalitzky. “We are delighted that a relaunch of the NKT nickel-dominant mine generates a significant NPV of $1.2-1.7 billion under various price scenarios. Furthermore, the identification of an open pit part as well as near-surface high-grade veins of the NKT area represent further upsides.”
At 08:36GMT, shares in Eurasia Mining were trading higher by 16.7% at 24.05 pence per share.
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