RE: Acceptable Offer?23 Jan 2024 08:00
Hi Stretch101
Wardell Armstrong know what in the ground and the value, have a look below and 42p is way under value.
more like $$$'s in the ground. Sit tight and wait for the reward...
16 Dec 2021 07:00
RNS Number : 8166V
Eurasia Mining PLC
16 December 2021
Eurasia Mining Plc
Tier-1 scale JORC MRE at NKT ex-operating Ni mine
Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce a tier-1 scale JORC Mineral Resource Estimate ("MRE") by Wardell Armstrong International ("WAI") at Nittis-Kumuzhya-Travyanaya ("NKT") nickel dominant nickel-copper-PGM mine formerly operated by Norilsk Nickel. NKT is located within the license area held by TGK, Eurasia's 80% owned subsidiary in Kola, immediately to the north of the TGK-owned West Nittis open pit deposit already licenced for mining, where the mining plan has now been developed for the life of mine.
Highlights:
· Tier-1 scale: 305Kt of Nickel, 143Kt of Copper, 57 tons of PGM and Gold (11.2Moz of Platinum equivalent) have been estimated by WAI as JORC-compliant resources for an underground mining operation.
· Nickel is the main metal comprising half of the value in the metal basket on a Net Smelter Royalty ("NSR") basis.
· Although significantly lower metal recoveries have conservatively been assumed for the MRE by WAI, the JORC-compliant Nickel resource has exceeded the Nickel resource registered in the Russian State Cadastre of Mines for NKT (please refer to RNS dated 4 December 2019). Metal recoveries remain a significant upside for the next NKT MRE update.
· About 2/3 of the resources have been defined as reserves under Russian classification by Norilsk Nickel, however the drill core and the trenches have only been analysed for the base metals (Nickel and Copper) and have not been analysed for platinum group metals ("PGM") thus limiting the classification to inferred under the JORC Code due to the application of regression formulas for PGM. Once all the PGM assays have been completed, this data will be used for re-estimation and re-classification providing additional upside for the next NKT MRE update.
· In order to further upgrade the resource Eurasia has engaged with SGS and Alex Stewart International for primary and secondary controls of the PGM assays on the historical drill core and the trenches by Severonickel / Norilsk Nickel as well as on the additional confirmatory drilling just done by Eurasia on NKT.
· The NKT nickel-copper-PGM ore used to be mined and shipped about 1 km distance to Severonickel, the world's largest nickel processing
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