RE: Established Dominant Player in Kola Peninsula13 Jan 2020 22:15
#EUA is established as the dominant player in Kola PGM with production license to 2038 & its exclusive right for the flanks under applicable laws; Receipt of approval for the flanks will allow Monchetundra (@EurasiaMining) to be a new global centre for PGM on the Kola Peninsula
https://twitter.com/TrivChannel/status/1216823381594726406?s=20
Not to mention Rhodium "The world’s most precious metal leaves everything else in the dust"
- Bloomberg Article https://www.bloomberg.com/news/articles/2020-01-13/most-precious-metal-rhodium-leaves-everything-else-in-the-dust
“The main driver by the beginning of January was physical demand from Asia, which might be also automotive related,” said Andreas Daniel, a trader at refiner Heraeus Holding GmbH. “Buying triggered more buying and in an unregulated market the effect was massive, with a price move which is only seen maybe every 10 years.”
Demand cooled late last week, according to Daniel. Prices hit $8 200 on Wednesday, before retreating in the following two days.
"Rhodium could top the record $10 100 set in 2008, according to Afshin Nabavi, head of trading at refiner MKS PAMP in Switzerland. Still, those lofty prices a decade ago prompted autocatalyst makers to switch to platinum and palladium, which are also used for cleaning emissions.
Small market
It’s much harder to invest in rhodium than in other precious metals. It isn’t traded on exchanges, the market for bars or coins is tiny compared with gold or silver and most deals are between suppliers and industrial users. Global production is equal to little more than a 10th of platinum or palladium output.
South Africa’s dominance also means production risks hang over the market. Power shortages last year temporarily interrupted some mining operations and there have been long mine strikes in previous years by workers wanting higher pay."
Just a reminder from Christian Schaffalitzky, Chairman at Eurasia from RNS on 4th December:
"-West Kytlim Flanks applications are progressing well and on schedule.
- And we look forward to the formal license issue, which is in line with our strategy to expand the production volumes at West Kytlim, to further increase our presence in the West Kytlim area and;
- aim to grow the mine to strengthen our position as the largest alluvial operation globally
- We believe we are now established as a dominant player in the PGM space in the region and look forward to scaling up our operation providing a low cost PGM solution that is sustainable over potentially several decades."
https://www.lse.co.uk/rns/EUA/west-kytlim-and-sinosteel-update-ccz1c1pv4sv896l.html