Member Info for mac4671

"Sulfide PGE–Cu–Ni and Low-Sulfide Pt–Pd Ores of the Monchegorsk Ore District (Arctic Western Sector)

During the recent exploration of the Monchegorsk ore district (MOD) in the Arctic western sector, the platinum potential of known Cu–Ni deposits (Nittis-Kumuzhya-Travyanaya (NKT), Nyud, Ore Horizon 330 (OH330), and Terrasa) has been assessed, and new sulfide PGE–Cu–Ni deposits (Western Nittis) and manifestations (Moroshkovoe Ozero, Poaz, and Arvarench), and low-sulfide Pt–Pd deposits (Loipishnyun, Southern Sopcha, and Vuruchuaivench) have been discovered. All of them are confined to Paleoproterozoic (ca. 2.5 Ga) layered intrusions (the Monchegorsk pluton (Monchepluton) and the Monchetundra massif) and are divided into two types according to their structural position: basal, located in the marginal parts of intrusions, and reef-type (stratiform). All types of ores show Pd specialization. Platinum group minerals (PGM) have a limited composition in sulfide PGE–Cu–Ni ores and are represented by predominant Pt and Pd compounds with Bi and Te and subordinate PGE arsenides and sulfides. Low-sulfide Pt–Pd ores are characterized by a significant variety of PGM, with a predominance of PGE sulfides, bismuthide-tellurides, and arsenides. Sulfide PGE–Cu–Ni deposits and manifestations (Western Nittis, NKT, Nyud, Moroshkovoe Ozero, Poaz, and Arvarench) formed through the accumulation of base metal sulfides and PGE in immiscible sulfides and their subsequent segregation in commercial contents. The reef-type OH330 deposit and Terrasa manifestation resulted from the injection of additional portions of sulfur-saturated magma. The basal-type low-sulfide Pt–Pd deposits (Loipishnyun and Southern Sopcha) formed from residual melts enriched in ore components and fluids separated and crystallized during long-term oreforming processes. The reef-type Vuruchuaivench deposit is the result of deep fractionation of the parental magma with the formation of a sulfide liquid enriched in Cu and PGE. Significant reserves and large predicted resources of sulfide PGE–Cu–Ni and low-sulfide Pt–Pd ores are a reliable mineral resource base for the development of the mining industry in the Kola region of the Arctic western sector."

https://ui.adsabs.harvard.edu/abs/2022RuGG...63..519C/abstract

GLA

13 green box replies on my thread, talk about obsessed! lol

GLA

As were many others erifles, it's generally what you do when you're a legitimate shareholder, hope for the positive news to drop in a timely manner.

Only traders and shorters hope for anything else, that's what makes you all so awfully transparent!

GLA

And the DFS being complete stage. Not a lot more to do at this stage, just kick back and wait for the big news to start to drop.

I hope all genuine holders are well!

GLA

Good to see. You would expect a run of news going forward, it will be interesting to see if anything new comes out prior to or on that momentous events day.

GLA

You would also have to ignore the vast majority of this in order to suggest that they've just been working on NYUD over there -

"Sulfide PGE–Cu–Ni and Low-Sulfide Pt–Pd Ores of the Monchegorsk Ore District (Arctic Western Sector)

During the recent exploration of the Monchegorsk ore district (MOD) in the Arctic western sector, the platinum potential of known Cu–Ni deposits (Nittis-Kumuzhya-Travyanaya (NKT), Nyud, Ore Horizon 330 (OH330), and Terrasa) has been assessed, and new sulfide PGE–Cu–Ni deposits (Western Nittis) and manifestations (Moroshkovoe Ozero, Poaz, and Arvarench), and low-sulfide Pt–Pd deposits (Loipishnyun, Southern Sopcha, and Vuruchuaivench) have been discovered. All of them are confined to Paleoproterozoic (ca. 2.5 Ga) layered intrusions (the Monchegorsk pluton (Monchepluton) and the Monchetundra massif) and are divided into two types according to their structural position: basal, located in the marginal parts of intrusions, and reef-type (stratiform). All types of ores show Pd specialization. Platinum group minerals (PGM) have a limited composition in sulfide PGE–Cu–Ni ores and are represented by predominant Pt and Pd compounds with Bi and Te and subordinate PGE arsenides and sulfides. Low-sulfide Pt–Pd ores are characterized by a significant variety of PGM, with a predominance of PGE sulfides, bismuthide-tellurides, and arsenides. Sulfide PGE–Cu–Ni deposits and manifestations (Western Nittis, NKT, Nyud, Moroshkovoe Ozero, Poaz, and Arvarench) formed through the accumulation of base metal sulfides and PGE in immiscible sulfides and their subsequent segregation in commercial contents. The reef-type OH330 deposit and Terrasa manifestation resulted from the injection of additional portions of sulfur-saturated magma. The basal-type low-sulfide Pt–Pd deposits (Loipishnyun and Southern Sopcha) formed from residual melts enriched in ore components and fluids separated and crystallized during long-term oreforming processes. The reef-type Vuruchuaivench deposit is the result of deep fractionation of the parental magma with the formation of a sulfide liquid enriched in Cu and PGE. Significant reserves and large predicted resources of sulfide PGE–Cu–Ni and low-sulfide Pt–Pd ores are a reliable mineral resource base for the development of the mining industry in the Kola region of the Arctic western sector."

https://ui.adsabs.harvard.edu/abs/2022RuGG...63..519C/abstract

GLA

Quite clearly states including, not limited to -

". Reporting on other Kola deposits, including Nyud and Moroshkovoe will be provided when Eurasia holds title to the relevant licenses"

Again, stipulates other licenses, not just limited to NYUD -

"In 2021 the Company had invested RUB 37,180,000 (£584,591 at a prevailing exchange rate at 30 June 2022) in respect of the Nyud-Moroshkovoe and other potential licenses and projects as per the agreements in place with Rosgeo and ERDC"

GLA

Russia + China to take Monchegorsk in a consortium and an Indian entity to take WK perhaps?

Sales conclude and Eurasia move swiftly on to -

"In terms of the future development of Eurasia Mining PLC, we continue to look at expanding the business in various ways, including the development of hydrogen projects internationally coupled with new mining opportunities in investment friendly jurisdictions."

Todays RNS really did drop some good info to sit and think about!

GLA

Great links lovelboy, it shows the trend that gaining the licenses via the JV doesn't cost very much money.

Rosgeo now profitable and Russian assets heading to production like the gov over there wants. Creating jobs, tax revenue streams and also relevant royalty streams. It's win win all round tbh.

Anyone else now wondering where India fits in to all of this? Russia and China was obvious for a lot of years, India not so much!

GLA

We know that the sanctions do not prevent the sale of assets, we were told that months ago. Told today that things are pretty much business as usual also .

From March 2nd -

"· The Board is closely monitoring the evolving sanctions and re-iterates that no individual or entity identified in the sanctions is associated with the Company in any way. Nor do the sanctions prevent the Company from executing on its M&A strategy as announced."

It's also confirmed again today that the potential buyers are all BRIC's, so, watching how BRIC's has and is evolving becomes quite interesting during our wait imho

GLA

What it suggests TheBeastofBodmin, is that the buyers are ready to go, but, we have something on our side that needs to be done to arrive at this stage - "Company is in a position to execute a legally binding agreement"

Now, we could all sit and guess as to what that may be until the cows come home, but, given what we know, the most likely scenario is waiting for the DFS to be complete. From day one of the FSP we have known Monchetundra is for sale, from todays RNS we know the DFS for Minchetundra is on schedule to be complete this year. It makes you lean on the 'waiting for DFS' theory imho

GLA

For reference, Neil's the type of bloke who sells out and then hangs around like a bad smell bringing nothing to the various chat boards where he lurks.

An example -

"neil777

Posted in: MADE

Posts: 107

Price: 3.60

No Opinion

RE: This is it!29 Sep 2022 17:10
I sold out a while ago Teddy.
I was armored I didn't trade it yesterday when it was 2.50p to buy but everything was tied up."

Have fun with your new account also in the green bin Neil!

GLA

Oh dear, green binned neil has created a new account to also be binned.

If it's a long way off then do explain this statement, i presume that you can read -

"We expect potential buyers to remain anonymous until the Company is in a position to execute a legally binding agreement and further updates regarding the sale process will be made as appropriate."

GLA

"I'm confused now. LOL" - They don't word things well with the Rosgeo JV tbh. They place a lot of focus on mentioning NYUD as the blueprint for the other areas, but, neglect to keep mentioning about how they are going to assess the other areas prior to making the decision to develop them by March of next year.

They get royalty payments Lovelyboy, it's how companies gain the licenses to extract resources so cheap -

"At the time of the award of the Monchetundra mining license a royalty payment was calculated by the Russian Federal Reserves Commission. 20% of this payment was paid in December of 2018 and the remaining 80%, or RUB 16.68 million (approximately £262,000) to be paid by November 2023."

It's not quite as simple as a one off fee scenario, i believe they get a royalty from all metal produced also, the relevant Russian gov body that is.

GLA

That looks more like a statement to any would be buyer, and, well, it definitely looks like the DFS is critical, once done it will allow the company to be in a position to execute a legally binding agreement. Discounted cash flow valuations will be the most accurate at that point in time -

"We expect potential buyers to remain anonymous until the Company is in a position to execute a legally binding agreement and further updates regarding the sale process will be made as appropriate."

GLA

They're quite secretive on the Rosgeo JV in general tbh, i think most have picked up on that. Third party publications to do with recent exploration on the Rosgeo JV assets tells anyone that work has been going on there and on the entire Monchegorsk district.

Their time to make their decision on which JV assets to develop is also running out rapidly at this stage, they only have until March 2023 -

"The decision on whether to proceed and thereby incur all or part of the Earnout is wholly at the discretion of Eurasia. The Earnout (if Eurasia decides to proceed) will be spread over the period of the development of the Additional Assets. Eurasia has 24 months in which to decide whether to select some or all of the assets to develop. If Eurasia determines not to proceed with any assets, no consideration would be due beyond the Initial Consideration."

GLA

The sale of the Monchetundra aspect will potentially rely on the response from Russian authorities. Once it has arrived then a material offer can be made on that asset aspect.
I don't think we have long to wait for that to land imho

GLA

Indeed chriszzr, read it again and it reads like rosgeo jv assets will be reported on when licenses arrive -

" Reporting on other Kola deposits, including Nyud and Moroshkovoe will be provided when Eurasia holds title to the relevant licenses. Operational highlights include: "

It appears that the work at Eurasia's side is largely done tbh, they're just waiting on the relevant Russian bodies in order to release the data. Looking forward to seeing it all arrive!

GLA

You have to take the net gain they talk about into consideration to equate the expenditure rate.

They're very clever with moving money to subs -

"Due to volatility in exchange rates in funding subsidiaries through inter-company loans, a net gain of £6.1 million was reported for the period"

It's also very interesting that they've chosen not to sell any PGM concentrate. So, if they had sold it their cash position would be even greater at this stage.

They're in a very comfortable position when they can hold sales off until better predicted prices arrive -

"and in anticipation of higher realisable sales revenue in the future"

Plenty of buyers at the table. India is nice to see there among the mix of would be suitors!

GLA

Keep forgetting to put the publication DATE in the same post, silly me lol

"Publication: Russian Geology and Geophysics, vol. 63, issue 4, pp. 519-542

Pub Date: April 2022"

GLA