RE: RD Tweet20 Sep 2021 13:54
The more you read Jame's statement the more it leads you to believe that Eurasia are taking at least part of the Rosgeo JV to production imho. Whether that's going it alone, or, more realistically, a JV formed with the MT buyer is yet to be seen. But, we know the current plan for JV assets is to have the ore ran through the original MT plant, that leads to a JV way of thinking and the potential scenario of what they could well still be negotiating -
James Nieuwenhuys, CEO and Managing Director commented: "We have decided to advance the Rosgeo JV, as its projects' potential has become more evident during the course of the confirmatory work being done by Wardell Armstrong International in relation to both PGM and battery metals (nickel, copper and cobalt) that are future facing metals in relation to the fast-growing hydrogen and EV markets respectively."
Christian Schaffalitzky, Executive Chairman commented: "The Directors are delighted that professional institutional investors offered to support Eurasia's fundamentals and its strategic options, as we continue to develop the Company including the upcoming acquisitions of Nyud, Moroshkovoe and other significant Rosgeo JV PGM and battery metals open pit deposits. Furthermore, while our board and management continue to be significant shareholders, the Directors are confident that the Private Placement will further strengthen Eurasia's negotiating position."
"Each of the four open pit deposits, which are located directly adjacent to Monchetundra, have already been studied by Eurasia with block modelling and open pits' optimisations performed by the Company. According to the due diligence done by Eurasia, the ores are suitable for toll treatment over distances of 5 to 8km with beneficiation and mineral processing at the proposed plant site between the Company's open pit deposits at Loipishnune and West Nittis."
The whole places goes to production initially through the original MT plant, which leads to the scenario of MT buyer being a potential JV partner for Rosgeo JV assets. Of course, there are other possibilities, but, from those statements in RNS it's pointing to a Eurasia involvement with Rosgeo JV asset production.
GLA
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