Last checked at 24 Jan 2023 14:24
24 January 2023
Eurasia Mining Plc
Update with respect to the Rosgeo Agreement
Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, notes the recent share price increase and speculation regarding the Nyud licence. The Company notes that the Nyud exploration licence was granted to OOO Monchegorskoye in mid-December 2022, a company established and owned by Rosgeo.
The Nyud exploration licence is adjacent to the Company's mining permit in Monchegorsk, Kola Peninsula Russia, and was applied for and progressed by Rosgeo. OOO Monchegorskoye was incorporated by Rosgeo for the purposes of establishing a joint venture to develop the Nyud Project with Eurasia's 100% owned subsidiary Yuksporskaya Mining Company, pursuant to the agreement between Rosgeo and Eurasia as announced 26 March 2021.
Any further developments in the Rosgeo agreement are being considered and would take place in the context of both Eurasia's sale of assets process as outlined in previous updates to market, as well as the sanctions environment, following recent (December 2022) updates to both UK and EU legislation.
For further information, please contact:
Eurasia Mining Plc | +44 (0) 20 7932 0418 |
Christian Schaffalitzky / Keith Byrne | |
SP Angel (Nominated Advisor and Joint Broker) Jeff Keating / David Hignell / Adam Cowl | +44 (0) 20 3470 0470 |
Optiva Securities (Joint Broker) Christian Dennis | +44 (0) 20 3137 1902 |
NOTES TO EDITORS
About Eurasia Mining Plc
Eurasia Mining plc is a palladium, platinum, rhodium, iridium and gold producing company, operating the established West Kytlim Mine in the Urals, and also the operator of the Monchetundra Project comprising two predominantly palladium open pit deposits located 3km away from Severonickel, one of Norilsk Nickel's largest base metals and PGM processing facilities, near the town of Monchegorsk on the Kola Peninsula.
A parallel business development strategy based on the Hydrogen Economy forms a new development arm of the Company. The Company's more recent focus on the international hydrogen and alternative fuel supply markets has been strengthened by the appointment of two Japan-based Directors, Tamerlan Abdikeev and Kotaro Kosaka, as well as the creation of a representative office in Japan (noting the Japanese government's commitments to the hydrogen supply chain and hydrogen as the primary alternative to fossil fuel based combustion), and more recently, the appointment of Artem Matyushok, a senior hydrogen industry executive