JORC and FULL gov support for millions of PGM and battery metal ounces8 Dec 2021 21:02
At the back end of 2019 we were here -
"To summarise, as per the information from the Russian Cadastre:
·; there are potential resources within the existing Company licence and the flanks application of c.15M oz. This includes Eurasia's current state approved reserves and resources of c.1.9million ounces (see the Company's Resource Statement, announced 15 June 2017) and c.13Moz detailed in the Russian Cadastre;
·; additional potential resources occurring within 5km of the Monchetundra Mining license and areas neighbouring the Company's deposits of c.4M oz; and
·; additional potential resources within the wider Monchegorsk district in which the Monchetundra license is located of c.21M oz.
The potential for the area could be 40M oz of PGMs, but as stated above this data has not been independently verified by Eurasia and other than the area covered by the Company's existing licence the Company does not yet have any other licences in the area"
That's what the JORC, recent drilling and putting everything into a larger DFS is for. Prove everything up and have it all ready with a thorough mining plan in place.
That's on what we've got current first mover advantage over, but, there is also this asset they could possibly go back to -
"The Company would also like to highlight further regional potential specifically in the Volchetundra Project, previously operated by the Company under a Joint Venture with Anglo American from 2004 to 2011, and subsequently surrendered to focus on the Monchetundra Project. Volchetundra occurs 5 km from Monchegorsk. This high palladium deposit now becomes of interest given the recent price appreciation in palladium and the future price outlook. Palladium prices through 2011 averaged less than $600 per ounce. The Company's database of proprietary information including 12,000m of drilling will be compiled in due course to reassess the projects future potential development. If the Company did want to explore this project again, it would have to re-apply for the relevant licences and there can be no guarantee that they will be granted."
5km from Monchegorsk, that above mentioned area is yet to be seen anywhere for the Volche area they mention in that RNS.
There's a lot of metals to JORC, it will come in time. Wardell Armstrong will get it all done.
GLA