ACF - this bit I Like "Eurasia's flanks application is for an 8 sq. km area covering on-strike continuation of mineralisation at both open pit deposits (Loipishnune and West Nittis). As per the Russian Cadastre, a panel of independent experts, the potential for the area could be 40 million oz of PGMs comprised of:
EUA looking at strategic options for Monchetundra including sale of the project to maximize shareholder value. 1) Potential resources within the existing company licence and the flanks application of ~15 million oz. 2) Potential resources occurring within 5km of the Monchetundra mining license and areas neighbouring the company's deposits of ~4 million oz. 3) Potential resources within the wider Monchegorsk district in which the Monchetundra license is located of ~21 million oz. M&A play:
The company has already stated its intentions to look for strategic options for Monchetundra including a potential sale. Last year EUA appointed former Goldman Sachs and Morgan Stanley senior investment banker Alexei Churakov as strategic adviser. Mr. Churakov has extensive mining merger and acquisition experience and has top level contacts with mining companies. Previously Mr. Churakov had assisted EUA in negotiating the EPC contract with Sinosteel. More recently he has been involved in facilitating due diligence on the Monchetundra project by South-Africa based Lesego Platinum. Mr. Churakov assisted with arranging detailed due diligence and multi-day site visits by Lesego CEO James Nieuwenhuys as part of an evaluation of Monchetundra and West Kytlim. Lesego is considering the potential partial acquisition of Eurasia’s subsidiaries and joint venture opportunities at the sites"