RE: RNS out1 Dec 2025 20:12
NB TGK is our subsidiary
Eurasia Mining (LON:EUA), the London Stock Exchange AIM listed PGM and gold mining company, is pleased to announce that an Engineering Procurement, Construction and Commissioning ("EPC") turnkey contract has been signed in relation to its Monchetundra project in the Kola peninsula in northwest Russia bordering Finland, between Eurasia's 80% subsidiary, Closed Joint Stock Company "Terskaya Gornaya Kompaniya" ('TGK') which holds the Monchetundra licence and Sinosteel, a Chinese state owned group operating primarily in mining, trading, equipment manufacturing and engineering.
Within the contract, a subcontract for $50,000,000 million is assigned to TGK to cover all preparatory engineering and pre-strip works on the two open pit deposits. TGK expects that this subcontract will be sufficient to meet the 15% equity contribution required for the project.
Not that imo it will ever be activated, imo latest is just putting a bow on the package to be sold. Another job done for the buyer. Done imo at this time because more folk can see the end of war coming. So when it does back come the buyers waiting in the wings and fairly quickly onto DD and sale.