Not a new RNS so don't get excited:- :-)30 Jul 2020 11:51
RNS Number : 3461B
Eurasia Mining PLC
06 October 2015
Eurasia Mining plc (AIM: EUA)
("Eurasia" or the "Company")
West Kytlim Mining Licence Awarded
Eurasia Mining plc, the Russia focused PGM exploration and development company, is pleased to announce the formal award and receipt by the company of the Mining Licence at West Kytlim.
The formal award of the West Kytlim Mining Licence and its official registration in Moscow was completed yesterday. The Company is now in possession of all necessary licence documentation confirming the Company's right to commence preparations for alluvial platinum mining, with a scheduled first mining and revenue generation starting next year, in 2016.
Christian Schaffalitzky Managing Director of Eurasia Mining said: "Formal award and receipt of the Mining Licence is a monumental step forward for Eurasia Mining and its shareholders.
This moment has been achieved after tremendous perseverance and dedication by the Eurasia team and notably by our company representatives in Russia, in particular our Russian director Dmitry Suschov. We are grateful to the Russian authorities for their support and assistance in the management of our licence application.
In line with our stated objectives, production of alluvial platinum from West Kytlim will provide incoming cashflow from the sale of platinum concentrate. This cashflow is an important step to Eurasia Mining becoming a self-sufficient and self-financed mineral exploration, development and production company.
The Mining Licence of 21.5 square kilometres is for alluvial platinum and is valid until 15 October 2040. The licence is granted to Eurasia's subsidiary company on the basis of first discovery and includes the rights for extraction of platinum and gold. The one-off lump-sum payment due to the government, to be paid within 30 days of registration of the licence, is 2,126,000 roubles or approximately £24,000.
This licence award comes at a time when the Company is also entertaining interest from a number of parties in respect of our Monchetundra licence and our team are actively engaged with the provision of support and information to the interested parties.
*** The last bit confirms that 'the Company is also entertaining interest from a number of parties' ***
And that was back in 2015, so with the improving value of the resource the interest has gained significantly recently, as an indication back in 2015 Palladium was about $625 per oz to today at about $2130 per oz spot price, and so the company has now indicated it is happy to sell either the company as a whole or part.
Everything to play for as an investor holding this stock when and if the hammer falls.
I have had to shorten the full RNS due to the character limit...
Back from a lovely outside in the breakfast :-)
GLA
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