.....16 May 2017 16:22
nice recovery thus far, not for me though:
"Eurasia completed our due diligence work at the Semenovsky tailings project and confirmed robust economics using a straightforward cyanide leach circuit. The Company is evaluating several project finance options for this operation and continue to work with the owner under exclusivity. As with West Kytlim, the Company aims to achieve production without issuing further equity, indeed minimising shareholder dilution has remained a key concern for the board throughout the past year, and through what we hope has been the final year of the recent downturn in the sector.
The Company is also pleased to confirm that it anticipates executing a potential loan arrangement with third parties and Dmitry Suschov, a director of the Company, in due course for approximately £1.6m (the "Loan Agreement"), this would repay the existing Sanderson loan arrangement entered into on 21 December 2016 and provide working capital for the Company for the next 12 months. Whilst there can be no guarantee at this stage that the Loan Agreement will complete, the Directors have every confidence that it will, and further announcements will be made in due course as appropriate"