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Pacha, it says in the vicinity:
Eurasia entered into a transformational joint venture with Rosgeo (the “JV” or the “Rosgeo JV”), a 100% Russian state-owned company, to gain a 75% equity stake in nine PGM and battery metals assets (four of which are post Russian Feasibility Study with state approved reserves) with a total of 104.6Moz of Platinum equivalent Russian Code reserves and resources in the immediate vicinity of the Company’s Monchetundra Project on Kola.
and here:
Information relating to Monchetundra and West Kytlim as well as the recent Rosgeo JV covering nine further PGM and battery metals focussed projects in the vicinity of the Monchetundra Project on Kola is summarised below.
I thin it mentions MT because of the expandable resource via Rosgeo near MT:
Monchentudra overview:
Ownership: 80%.
Operating Partners: Sinosteel, Central Kola Expedition.
Region: Murmanskaya Oblast, Russian Kola Peninsula bordering Finland.
Mine type: Open pit.
Licensing: Mining license to 2038.
Financed via Sinosteel EPCF.
Status: Preparation for production.
Product/Offtake: PGM and battery metals concentrate (Palladium dominant, Platinum, Gold, Nickel and Copper).
Infrastructure: Road, Rail, Sea Hub, Power and Human Capital. Close to Finish border.
Mine life: >20 years.
Target production: 1,000koz at full capacity.
Expansion: mineable reserve base via the Rosgeo JV.
It's frustrating, but let's hope it's all worth the wait? We don't know what will happen in the future.
If the sale is agreed for a silly price in the ÂŁ's, this will quickly be forgotten and you'll be thankful you held.
It says the balance would be taken as mined, so I assume some sort of profit share, with 25% of the value being directly paid to Rosgeo, and an unspecified amount of our 75% being used to pay off the fees.
Whatever this may be, it certainly looks like they are increasing shareholder value by expanding constantly.
I’m not sure if the intention is to mine this... it certainly looks a little like this at the moment.
I really want EUA to wrap up the sale soon, but the longer this goes on, the more they keep adding to it. Flanks, DFS, more exploration licenses, year round mining permits. All the while the metals involved are rocketing in price.
What will they do next? It really does seem like they are trying to maximise the value of the company at every turn.
Did anything get released about AP’s work at MT? I can’t recall seeing anything. Perhaps that’s a next step.
I wonder if they have explored the possibility of 100% ownership of WK to make any deal easier to strike?
The Amazon link goes to Amazon, and not the listing directly. Not sure why they don’t link the actual listing, since they are only distributing on Amazon via this seller...
Dore - Not sure of the point you are making here. The board clearly outlined their strategy was to sell the company, not mine it themselves. Sinosteel is a backup plan in case of no acceptable offers.
Clearly the long term value is in mining these metals, but the BOD don't want to wait around that long as they have been involved for a long time already.
Note that WK is cleared for year-round mining, and work is underway to start this. It's MT which isn't being mined as it's out of season. If the FSP rolls on into mining season, we may get an update to show work is being started there too.