RE: Federal contract for years - Monchegorsk, area of great geological interest15 Aug 2021 23:51
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."
https://www.vnedra.ru/novosti/rosgeologiej-okoncheny-burovye-raboty-po-obnaruzheniyu-metallov-platinovoj-gruppy-na-territorii-murmanskoj-oblasti-10745/
It looks like they've managed to find an expansion of it, good work tbh -
https://twitter.com/GMF782/status/1397585365653917701?s=20
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:"
https://www.lse.co.uk/rns/EUA/binding-agreement-signed-with-rosgeo-664vj174ti35e5h.html
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."
http://www.tsnigri.ru/magazine/RM/2021/2021_1_min.pdf
Koka kola and aaarrrrrrrrrrrgggggggghhhhhhhh's all round!
GLA