Member Info for mac4671

In the gym Mike, having a break from the PC.

All the best to you.

GLA

Good point CAW, dragline per operating mine area then. It's a shift to a very efficient and quite large mining operation tbh, well, compared to the little pilot plant of years ago. They have moved on leaps and bounds with WK. You can almost guarantee that they'll extend the 'mining rights' footprint over the winter as well to maintain their pace.

It's a very good money churner when you run the figures we know of.

GLA

Let's have a look at a lovely piece from the Sept interim -

"We have successfully trebled our production capacity at West Kytlim, our ESG focussed PGM mine, while continuing to develop the electrification of the site to reduce the mine's carbon footprint. To that end we have selected an electric dragline to minimise our impact on the environment as well as to increase the efficiency of the stripping and mining, thereby reducing costs. Thus, the next year is expected to be transformation for West Kytlim on both the mining side with a highly productive electric dragline and on the processing side with 3 plants already launched.

My thanks to the staff and the Board for their continued commitment to creating additional value for our shareholders. The Company is in a very strong position financially, with an excellent portfolio of assets, and in a buoyant market for the future facing green metals: battery metals for EVs and PGMs for the hydrogen economy.'"

Here's an electric dragline for those who don't know-

https://www.youtube.com/watch?v=onUbhQ85efs

Is it sold or will we get a whole season with 3+ wash plants and an electric dragline running?. Either option makes us money, that is the reality of our present situation, there is no 'bad news' option!

GLA

Has anyone had a play with WK figures?. They said they had tripled production, Dmitry in interview stated that the max they had produced in a day was 7kg when a single wash plant was operating.

21kg a day for say 3 months (90 days), would that be a fair conservative scenario from what we have been told and with 2 wash plants running for a large part of the season?

I know some may not be impressed by the figures that come out from that scenario, but, i still remember the days where Eurasia's MCAP was far less than what that production would make.

Could a few pence divi be on it's way from WK production alone, before even thinking about any asset sale dividends?

GLA

There is no 'bad news' scenario from here. Even if the buyer pulls out, we would just draw the Sinosteel funds down and take MT to production. WK would add more wash plants for next season expanding production.

Rosgeo JV would also head to production, i mean, oh no, the horror, no sale, everywhere in production, what will i do?

The green boxes never had a legitimate deramp angle because Dmitry & Co ensured every route is a winner.

GLA

Depends on what you class as shortly Sbrace. In mining a couple of months is a short time, projects take years to bring online. These are just the final steps of the district there to bring MT, MT Flanks and the Rosgeo JV to production alongside one another. You can that is the case from another Sept RNS -

"· Phase One annual metal production has now been calculated to be equal to 128 Koz of palladium equivalent, over 70% higher than the volume projected in the FS. This production volume does not include Monchetundra Flanks and Rosgeo JV projects which will be separately announced"

I would imagine that part of the agreement is that JORC and DFS are to be done prior to the sale deal being finalised on whatever is being sold. We know MT is as that was mentioned at the very start of the FSP as having NDA's in place. What else goes as well is open for debate.

"The interested parties shall be invited to submit their proposals to UBS. It is currently expected that any interested party wishing to participate in the formal sale process will, at the appropriate time, be required to enter into a non-disclosure agreement with Eurasia on terms satisfactory to the Board and on the same terms, in all material respects, as other interested parties participating in the formal sale process, before being permitted to participate in the process. 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 same statement told us that NDA's would be in place throughout tbh.

GLA

That comment first appeared in RNS 24th Sept, that last one i provided is from the later interim -

"· The financial position of the Company is sufficient to accomplish its commitments in relation to Rosgeo JV, where a JORC resource by Wardell Armstrong is to be announced shortly"

This coming week makes it 2 month passed. How short is shortly, or, in Eurasia's case, how long is shortly? lol

GLA

There was a live presentation scheduled and now there's not.

Make of it what you will.

Bare in mind that this RNS was almost 2 month ago now -

"· Wardell Armstrong International engaged in April for several comprehensive tasks including JORC resource audits which are almost complete and are expected to be announced shortly"

Couple of months could be considered shortly in the mining World . . . .

GLA

In my short investing 'have a go', Russia has been the most lucrative to date, by far! So i'm not really surprised at the large percentage.

Good article though, thanks for sharing!

GLA

No presentation for us to view on Monday appears to be the consensus John. I hope that helps.

GLA

It eithers means it has extended beyond that figure, or, it has extended before the original JV footprint at the side the flanks extension covers -

"· The area of the Flanks License is adjacent to our current mining license and is largely intersecting with (as well as extending beyond) the initial exploration license that Eurasia owned via its former joint venture with Anglo American Platinum ("Anglo JV")."

The only area adjacent to the 'mining license' area that is available is South and East of the area. It will be interesting to see it appear on the updated website map.

GLA

I'm just wondering if it is this figure they mean when they said they had expanded beyond the old Anglo JV area in RNS?

"Urals West Kytlim Ore reserve delineation drilling (Russian category C2) continued throughout 2006 on the 171km2 licence area at West Kytlim"

Another 71km2 license on top of what we already had would indeed have taken us past that figure. It's hard to fully understand what they mean at times due to all of the historical stuff in RNS.

Either way it's expanding both production capacity and held license area, which can only be seen as highly positive.

GLA

Not entirely sure what would happen to that data Trift8082. If they have secured a license for the North part of Volche then they would perhaps receive the exploration data for it. When we received MT Flanks we received all previous exploration data done on the area, so, it should hold true if our exploration data covers part of their area that they will indeed receive it.

In reality we were never going to bring that whole area into production ourselves, the gov and Eurasia will both know that.

9 months per flank app extension sees us expanding for many years North and North West from our current position. We're absolutely years ahead of them with things, they have to explore those vast areas that they've received licenses for and then get areas signed off as mining rights to take them to production, it's a long slog, just look at Eurasia's history to get to where they have got to with MT.

GLA

"Monchetundra The Monchetundra licence covers an area of 36.2 km2 and is situated immediately to the west of the town of Monchegorsk." - That statement right there could mean that the Rosgeo JV areas which are mainly South of Monchegorsk are entirely on top of what they'll initially expand back into with MT.

The potential is off the chart, make no mistake about that. The biggest value was always going to come from that mountain range track.

The secretary back in those days must have been pretty poor, you'll know that from following the RNS link and trying to read it lol -

"The mineralisation is characteristic of a recently defined new class of PGM (platinum group metals) deposit known as low sulphide, contact-related and breccia-hosted type. The similarity in the geological setting and style of mineralisation at Monchetundra to that developed in the Finnish deposits is striking, especially that developed in the Portimo Complex. Also, there are some similarities with 'Platreef' rocks seen in the Bushveld complex of South Africa."

Another extract from it, which mentions the now notorious Bushveld complex.

GLA

Here is how i originally ascertained that they were targeting the track of that mountain range years ago -

"Monchetundra The Monchetundra licence covers an area of 36.2 km2 and is situated immediately to the west of the town of Monchegorsk."

"Volchetundra The Volchetundra licence area, which covers approximately 210km2, lies to thenorthwest of Monchegorsk town. The host mafic intrusion is some 40km long and varies in width from 1-4km."

"West Imandra The West Imandra licence covers an area of 229km2 situated to the S-SW ofMonchegorsk, adjacent to the Murmansk to St Petersburg highway; it covers thewesterly strike extensions of the Imandra layered intrusion which has beenbroken by faulting into the Ostrovskoy, Yalgeny and Mayavr-Devichya Massifs"

https://www.lse.co.uk/rns/EUA/final-results-b4woc8gvrxsrqjk.html

It's quite clear what they were looking to do when you look at the old exploration licenses they held for the area in Anglo JV days. The PGM's and battery metals track the entire East side of that mountain range. I believe the Western Imandra exploration proved fairly poor, which covers some area South of the mountain range that MT and Volche track.

Simply put, Eurasia would continue to apply for and expand along the mountain range, heading North and North West from their current MT + Flanks and Rosgeo JV position. They have the legal right to via the relevant legal exclusivity laws once they have mining rights in place for planned open pits - The first mover advantage!!

GLA

When you zoom out on google maps you'll see the wider mountain range, you can assume that there is potentially PGM and battery metals tracking the whole range. It's the same rock and fault line and so makes perfect sense. There must be something somewhere that accounts for the track between R1EX's North highlighted areas and our current MT + Flanks position.

I'll assume that it is that area that our BOD refer to when stating Volche occurs 5km from Monchegorsk -

"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."

And what they would indeed be looking at applying for again. As long as their RNS stated distance is accurate then it will fall under legal exclusivity at some point.

GLA

Ref Volche - "Volchetundra occurs 5 km from Monchegorsk."

Now, when we look at R1EX's tweeted map there is clearly something wrong, the highlighted license areas do not match the RNS statement of distance. We know this as MT + FLANKS is a approx 8km2 area, from other R1EX tweets it is 7km+ in length from point to point, account for the bend to understand the 8km2 area.

https://twitter.com/R1EXG/status/1323936631863336960?s=20

Google maps also tells us that those marked license areas that R1EX has highlighted are far greater than 5km away from Monchegorsk -

https://www.google.com/maps/place/Monchegorsk,+Murmansk+Oblast,+Russia/@68.1086071,32.8969772,89721m/data=!3m1!1e3!4m5!3m4!1s0x4431761ebd85e72b:0xdbf5f7a54ca1b697!8m2!3d67.943134!4d32.8919562

Now comes the question, are the BOD referring to a different area when they talk about Volchetundra, the evident distance problem could make it the case!

GLA

It's what has also ultimately lead to the likes of R1EX etc digging out the licenses prior to anything being RNS's. Investors have had an awful lot of time on their hands to be digging around while this sale process has went on.

Mike neglects -

MT DFS done - Production output stated - similar to arrive for MT Flanks and Rosgeo JV in seperate announcements

WK production tripled with three was plants

At last RNS 6 out of the 9 Rosgeo JV areas had been done

Due Diligence successfully completed by the buyer. FSP ended a long time ago and it has been that buyer in play ever since, clearly under the relevant M&A exclusivity umbrella.

GLA

It's one of those situations where you really don't have any idea. I think the problem now is that Eurasia have far too much 'secret info' so to speak. The interim bullet point list is a good example, just on that one thing we should really know more at around this stage on a number of things and they're all valid question points to have been asked on Monday.

Could it be that there is a big announcement to be made this coming week on the sale and they've had to pull their appearance at the event? Perhaps big news is due shortly after the event and it would look quite bad to be reeling in investors on Monday only to release massive news a few days later which potentially almost instantly multiplies anything they managed to get invested into Eurasia. They have to be very careful with that kind of thing.

It's as confusing as it is exciting at times if i'm fully honest lol

GLA

MRBAgency
@MRBAgency
·
13m
In another dramatic twist to Mondays event the
@moscow_exchange
have confirmed that "Unfortunately, it will not happen" & any further questions should be directed at events@sovacapital.com

https://twitter.com/MRBAgency/status/1462016068432678919?s=20

It's all quite strange isn't is.......on the bus, off the bus.......

GLA