At eurasia mining. Every day they produce metals at West Kytlym, every day they work on maximum shareholder value.
Personally looking forward to more Rosgeo JV news myself, taking some of the assets there to production, big value to be had via that route for all shareholders.
It's the same consistent script all the way from the original bank RNS of Oct 19 -
"The Last Non Consolidated Palladium Play".
"we are considering all options for the Monchetundra Project including the potential sale - the resource potential here mentioned, as well as our expansion strategy on the Kola Peninsula as a future palladium district are key considerations in our discussion.'"
"In recent months, Eurasia has received a number of inbound expressions of interest from multiple parties interested in acquiring all of or a stake in its assets. The Board has therefore decided to appoint UBS Investment Bank in London ("UBS") as its leading financial adviser to assist in a review of its strategic options including asset sales or a sale of the Company."
"All existing non-disclosure agreements interested parties have already signed with the Company in relation to the potential acquisition of the Monchetundra asset remain valid."
"the Company has now received several proposals including a proposal from a credible party for the potential acquisition of substantially all of Company's assets. The Board has decided to focus on this potential asset sale."
Eurasia Mining plc Annual Report 2020.pdf -
"• The Company received a proposal in writing regarding a potential substantial asset sale in May 2021 and exited the Code compliant Formal Sale Process as announced on 12 May 2021."
"The Company has continued to manage and develop the Monchetundra Project while commercial negotiations/discussions
regarding a potential sale of the project are ongoing"
Feet up and very relaxed, sipping on some nice chilled koka kola, aaaaaaaaarrrrrrrrrggggggggghhhhhhhhhhh
Licenses are held in Russian subsidiaries, it is in effect a disposal of the percentage ownership of the subsidiary for Eurasia -
!4.1 What types of entity can own reconnaissance, exploration and mining rights?
There is a general provision in the Subsoil Law that entrepreneurs, including participants in a simple partnership, as well as foreign citizens and legal entities, can obtain a Subsoil Licence, and thereby acquire the right to conduct mining activities (the “subsoil user”). However, due to ancillary requirements for subsoil users, in practice the vast majority of subsoil users are Russian companies (whether owned by Russian persons or by foreign investors)."
Some see any delay as a negative, i see them as a positive at this stage. Metal prices are nice and high, the revolution has moved on leaps and bounds, lots of talk about super cycles, these things all add pressure on the buyer to dig deep with forming their offer. LOI received in May as the appropriate asset/s sale chosen to move forward with.
This says everything we need to know to be fair -
"Christian Schaffalitzky, Executive Chairman of Eurasia commented: "The Directors are committed to maximising the value for all the shareholders, and we are delighted to have received a proposal from a credible party that could allow us to pay a significant dividend to all shareholders"
They're delighted and so should we be.
Koka kola's, sea shanties, and piles of treasure all round, aaaaaaarrrrrrrrrrrrrrggggggggghhhhhhhhhhh
oldspursfan, a rights issue could be something possible at some stage, lots of rich investors from a large divi would be highly likely to participate in it, i know i would. In a Rosgeo JV to production scenario it becomes a no brainer to participate to be fair, securing your slice of the larger available pie.
Expecting nothing short of a 'eye popper' stix, we're at the base camp of this green revolution with assets bursting with what is required for it all to take place. These assets are only in a limited supply globally, 3 clusters, South Africa, US and Canada border, and ours at the Russian and Finland border. There's talk at g7 that they're going to speed up the shift to electric, that includes both BEV's and FCEV's -
The pressure is on!
They're idiots, it's counterproductive. If climate change isn't tackled rapidly then everything potentially dies. Local resources online cut transport emissions by a large factor. They don't grasp the mine once, recycle thereafter concept, which is creating the circular and suatainable economy that is required for a global shift to a more sustainable future.
What's all this noise about?. Just get the calculator out, pop the feet up, sip on some fine koka kola and relax. There is nothing else left for a shareholder to do, Christian, Dmitry & Co are doing everything else.
Koka kola, treasure, aaaaaaaarrrrrrrrrrrrgggggghhhhhhhh
It will come, perhaps not this evening but that's what they're currently working on, the asset sale that they have chosen to move forward with.
Nice weekend of popping the feet up and sipping on chilled koka kola with my favourite rhodium sprinkles!
No problem, the bit to take note of is the starting date for production, 2027, there is a large gap to fill from now until then. Good old Monchegorsk is ready to fill the gap. The Russian gov are clearly involved in it all, mine district planning and when to bring things online to suit the clean energy revolution, by 2027 the demand scenario will be pretty colossal tbh.
It's all very interesting when you're looking in from an outsider perspective, seeing how Russia appears to moving forward with it all.
"An ore-dressing plant will be built in the Murmansk region for the extraction and processing of platinum ore from the Fedorova Tundra deposit. A corresponding agreement was signed the day before by the Regional Development Corporation and JSC Fedorovo Resources, which has a mining license.
According to plans, new production will start in 2027."
It's fedorov Minor, different asset which is East from Monchegorsk.
Good spot though.
NDA's Gargar, it will be top secret until the very last minute when we have to vote on it. I'm surprised at how water tight the entire thing has been tbh, usually there's always someone somewhere who can't keep stump.
The third party link that relates to that recent FS which increased Resource figures -
"After the completion of all work, both the main resources - platinum group metals and associated components - nickel, copper and gold will be accurately calculated. The end of the research is scheduled for December this year."
"K. Firstov, head of North-West PGO, explained that as a result of research work at Poaz, the uniqueness of the deposit was confirmed, according to preliminary calculations, the deposits of platinum and palladium are about 336 tons (category P2), which is much higher than the initial forecasts."
It looks like they've managed to find an expansion of it, good work tbh -
All leading to -
"The Additional Assets have a total of 104.6 Moz Platinum equivalent resources as at 31.12.2020 (source: Russian Feasibility Study ("FS"), TsNIGRI, Russian State Cadastre of Mines) according to the Russian standards and are comprised of:"
And then the Tsnigri bomb was dropped -
"Development potential and investment attractiveness of PGM deposits (Monchegorsky ore district) are discussed. By the late 2020, the reserves of these deposits were approved based on results of a feasibility study review assessment in the State Reserve Commission and TsNIGRI approval. In current mineral market conditions (including high Pd price), the most attractive development projects are Vuruchuaivench deposit comprising 4 areas (Plast 300, Vuruchuaivench, Yuzhnosopchinsky and Arvarench), NittisKumuzhya-Travyanaya occurrence and Loipishnyun area. In terms of reserves, ore grades and proximity to processing plants, these potential mining projects are less expensive if developed concurrently. The paper presents recommendations for PGM deposit opening, development and mining using advanced mining equipment in open-pit and underground mining operations, ore conveying and processing plant tailings disposal to infill underground workings. Economic estimates were made supporting development viability of the above deposits within Monchegorsky ore district."
Koka kola's all round!
For. . . "prioritized mineral centers of economic development". . . . . . Kola
NKT and NYUD from some years ago. They've been exploring the area for years now tbh -
"Department performance for 2014-2018
Feasibility studies and scoping prefeasibility studies were completed for development, geological study and mining operations at the following deposits:
NKT and NYUD PGM occurrences, Monchegorsk ore district, Murmansk region, JSC Severo-Zapadnoye PGA.
Federal contract execution
Federal contract “Work on investment projects of prospective precious metal and other nonfuel mineral deposit geological study within the prioritized mineral centers of economic development”."
A dead cert for a very long time to be fair ; )
Table 5 on the Vuruchuaivench link also has some interesting GOLD & SILVER figures!
Another anomaly feature at Vuruchuaivench appears to be this -
"Gersdorffite, is rare and has simi-lar PGE contents. Pd and Rh are evenly distributed among grains. Sulfoarsenides with a high Pd content(5–10 wt %) are developed after sulfoarsenides within signi?cant PGE admixtures as rims and frames(Fig. 6)"
Here's a bit of an eye opener about South Sopcha -
The South Sopcha massif (Fig. 1) is situated to the south of the Monchegorsk pluton and separated from the Monchetundra massif by a block of Archean rocks at Mount Arvarench. The massif is elongated; its length at the surface is about 10 km2 and width is 550–600 m (Ivanchenko and Davydov, 2009). The massif strikes in a northwestern direction and steeply (60°–70°) dips to the southwest. As follows from drilling and3D modeling results, the massif is traced to a depth of–1.7 km beneath the massif of Mt. Sopcha in its western part."
These assets are colossal, no other way to describe it ladies and gents.
I found a diagram with multiple named areas, Horizon 330, Sopcha, Nud, Poaz, Critical horizon, Gabbro 10, Vuruchuaivench & South - Sopcha Massif. From that you have most of 9 Rosgeo JV assets named, possibly?.
Page 23 in here for the diagram -
9 - Pentlandite creek, or even the rest of NKT which doesn't fall into the legal exclusivity zone?. So many assets in the area for both PGM and battery metals:
Rosgeo JV -
"In the brecciated rocks of the marginal group, Pd bismuthotellurides (mainly merenskyite), sperrylite, hollingworthite, and Pd and Rh bearing cobaltite and gersdorffite are predominant"
Table 2 and figure 2 for Vuruchuaivench -
"Nyud lithologies also show positive Pd and Rh anomalies and relatively high Pd/Ir ratios of more than 20 (Fig. 14 C, D, E)."
"Travyanaya has higher PGE concentrations and features an enrichment in PPGE relative to IPGE with positive Pd as well as Rh anomalies and a high Pd/Ir ratio of more than 75 (Figs. 12 J, 14 A). Chromite-rich dunite from the Dunite Block exhibits a strong enrichment in IPGE relative to PPGE, which reflects the presence of IPGE-rich cumulus chromite (e.g., Capobianco and Drake, 1990). All other lithologies from Travyanaya, ranging from websterite to orthopyroxenite and gabbronorite, have remarkably similar patterns with Pd/Ir ratios from 48 to 65 and positive Pd as well as Rh anomalies (Fig. 14 B). Kumuzhya, Nittis and Nyud lithologies also show positive Pd and Rh anomalies and relatively high Pd/Ir ratios of more than 20 (Fig. 14 C, D, E). Only the ophitic orthopyroxenite from Nittis has a different pattern lacking distinct anomalies. It is worth noting that the positive Pd and Rh anomalies are characteristic of many other Fennoscandian intrusions of similar age, such as the Portimo Complex, and also in parts of the Great Dyke of Zimbabwe and the Muskox intrusion in Canada (Barnes and Francis, 1995; Iljina et al., 1992; Maier et al., 2015)."
"Rh-rich pentlandite KT 150-154 A bis 3 3 0.39 0.00 12.13 24.95 27.12 0.33 0.05 0.00 0.40 31.7 10.36 97.44"
12.3 being the Rhodium.