Member Info for mac4671

But, as per that recwnt RNS, they had a play and re-submitted the app -

"Project Flanks - Additional 50.7km2 surrounds the current mining license and includes strike extensions to identified reserves and resources. MOD approval received in May 2020."

GLA

"Eurasia also has a call option to acquire 25% from Rosgeo after completion of the reserves audit under the JORC Code. " -

"A call option, often simply labeled a "call", is a contract, between the buyer and the seller of the call option, to exchange a security at a set price"

https://en.m.wikipedia.org/wiki/Call_option

GLA

"Rosgeo was Government owned & therefore slow witted and did everything at a snail's pace" - Rosgeo are 100% Gov owned and exploration takes time. The bigger the area and deeper you're exploring then the longer it all takes. I think people generally expect these things to be quite quick, they're not, far from it. The vast majority of large ground investigation/ exploration jobs run over the original time allocated for such things. Time is allocated in and 'ideal world' scenario, that world rarely ever lands due to the nature of the job. You get rig break downs as an example. Holes don't always go to plan either, again problems can occur during the core sampling etc. It's a far more complicated thing to go and do than most people generally think.

"Anyone saying 'I own loads of assets worth a fortune' but 'can't be bothered to organise digging the stuff up myself' so you do it all for me at your expense (and keep 75% of profits) is simply giving something away for nothing" - Rosgeo are the governments exploration company, it's not a mining company, 2 completely different things. It's why the Gov are also involved with a JV at Fedorov with a seperate mining company. The Gov own the land, the assets, the companies receive licenses allowing them to extract the resources. There will be some form of percentage the Gov will receive on all metals extracted. They also gain from creating a PGM district by creating local prosperity, lots and jobs and money into the area, which in turn creates a bigger tax stream back to the gov.

"And then the last thing is you have to forego 25% of your profits from the stuff you dig up & sell , to Rosgeo because the deal is that we retain 25% of the shares; bad luck" - we have the option of getting 100% of the JV assets at a later date.

Just a few things which needed clearing up a little i feel.

Hope you have a lovely Easter Sunday, all the best to you.

GLA

I remember the convo well, as i said to him it would all depend on what they would manage to get through licensing as to what would end up being available and he came back with the theory that he thought something would happen with the Russian Gov to unlock things. He was bang on with that tbh, now where's his £3.50 lol

GLA

Indeed Benjammith, it was one of his theories when he was around. He did say he thought something would happen with the Russian Gov that would unlock the area and he was all over the recent Rosgeo exploration when he was here. He shared a hell of a lot what he found on here, it was quite messy at times, but i think he was just genuinely excited at what he could see happening for the area at Monchegorsk.

Nice T by the way lol

GLA

as i am at their subsidiary name of the original asset area which started all of this?. Named after the neighbouring rocket launch command centre -

"Eurasia's subsidiary ZAO Kosvinsky Kamen (KK)"

Half penny days to where is now is quite the launch, i wonder where it goes next, only the ones in the command centre (BOD) truly know!

GLA

"HL don't have a Bed & ISA at the moment (annoyingly)" - That's a very poor show. From the boards on LSE all you ever see is comments pointing to a poor show there. It's a shame really as many will have accounts with them and find themselves stuck. There's not really any excuse for it either these days, not with the technology at everyone's disposal.

GLA

Remember, UBS are running the FSP for Eurasia Mining and will be advising them throughout the entire process, advising to slow certain parts down to allow certain things to land. Certain metal price previous forecasted targets to be hit etc etc.

Whatever large deal they manage to get through, it will be mutually beneficial to both Eurasia and the investment banks involved via the success fee basis system. The bigger the deal the more everyone gets paid.

GLA

I think the clue is in the original bank RNS tbh -

"If the Company was to dispose of both of its Assets, then AIM Rule 15 (Fundamental Changes of Business) would apply. Such a disposal would require shareholders' consent, an announcement which contains the information set out in Schedule Four to the AIM Rules; and be accompanied by a circular containing the details of the disposal and convening a general meeting to approve it."

Something holders who have been here a while fully know about. Both Citic and UBS are on a success fee basis and have now been here for a very long time, the length of time has to warrant the resources they've had tied up in all of this for such a long period, therefore it's a big deal inbound, if it wasn't they wouldn't have agreed to the success fee part of doing business.

GLA

I think people will begin to realise the gravity of the Rosgeo JV over this weekend. They've only just completed a recent FS in the area, that's on top of everything done previously. We know from tsnigri that PFS were done on NKT and NYUD (areas containing positive Rhodium anomalies), Eurasia now have all of that data at their disposal as well as the new study data, and everything they have themselves from Anglo JV days. By this point, the areas are extensively explored -

"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

"Since the final approval of the Flanks licence (see RNS of 25 August 2020) the Company has been putting together the database of information from previous drilling campaigns in the Flanks area, that is considerable. 48,405m drilling (announced via RNS of 18 August 2020) is related only to one part of the Flanks License (NKT) and comes on the top of 33,100m drilled by Eurasia's Joint Venture with Anglo American Platinum. The Russian feasibility study on the NKT palladium dominant mine (within the boundaries of the Flanks License) gives 15% IRR at the palladium price of $659 per 1 oz, while the current palladium price stays above $2,000 per 1 oz due to long term structural deficit in the palladium market."

https://www.lse.co.uk/rns/EUA/interim-report-z4vq8goh3rc2usr.html

GLA

Our RNS insert about the PFS on those areas -

"Our predecessors also developed targets in the NKT area, and areas to the east of the Loipishnune deposit, and these work programmes in 2015-2017 resulted in pre-feasibility studies lodged with the State Cadastre of Mines in Russia."

https://www.lse.co.uk/rns/EUA/general-update-and-institutional-placing-at-225p-yh2uz9tcbjepr54.html

GLA

Hi shezer, yes, he'll choke when he sees this thread lol

"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)."

https://orca.cf.ac.uk/112128/1/Critical%20Controls%20on%20the%20Formation%20of%20Contact-Style%20PGE-.pdf

You'll notice NYUD mentioned again -

"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."

http://www.tsnigri.ru/en/otdel-geologo-ekonomicheskoj-otsenki-mestorozhdenij.html

GLA

Good morning Ian, Indeed, Nyud the other area the pfs was done circa 2015-2017!

Our BOD and geologist team will know exactly what's in the area, MT wise and the new areas falling within the Rosgeo JV. Rho Rho Rhodium your boat gently down the stream . . . . .

GLA

Someone must have took the trash out, good on them.

GLA

Highlights the areas similar to the orca link map, but in green and adds a basic description of what's there in his thread -

https://twitter.com/RichardDugdale3/status/1378246321916772353?s=19

Green boxes get everywhere lol

GLA

Absolutely brilliant Mjd2020 lol

I bet it's real fancy in there CAW haha

GLA

I'll accept that description Mjd2020, home of a deramper blasting rocket command post lol

GLA

Sorry, Mount Kosvinsky Kamen!

GLA

They won't mine Mount Kamen Kosvinsky itself lol

GLA

Took me a while to find it, but i thought i would show you the WK transaction from some years back -

"Eurasia, London quoted PGM and gold producer, is pleased to announce that, further to the announcement of November 2017, Mr Alexei Churakov has now completed the purchase of a 7% minority stake in Eurasia's subsidiary ZAO Kosvinsky Kamen (KK) which solely owns and holds the West Kytlim project. After this transaction, KK is 68% owned by Eurasia."

https://www.lse.co.uk/rns/EUA/completion-of-transaction-czcirfbwjxa3cam.html

You'll note the Kosvinsky ref in the subsidiary name, again confirming that it's the Kosvinsky block the West Kytlym asset is targeting, home of the Butyrin vein and other similar rock deposits which contain Rhodium. All very shallow open pit as well, the AISC there is really low!

GLA