Totgesagte leben länger: Eurasia Mining, nun doch Produktionsstart 2013?! (Seite 34)
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EURASIA MINING
18 Mar 2015 07:00:27
Eurasia Mining PLC
RNS Number : 7123H
Eurasia Mining PLC
18 March 2015
EURASIA MINING PLC
("Eurasia" or the "Company")
Mining Licence Update
Eurasia Mining (LON:EUA), the platinum explorer and resource development company operating in Russia, is pleased to provide an update with positive progress in the Company's Mining Licence application in respect of the West Kytlim Alluvial Platinum Mining Project.
Highlights:
- Rosnedra has confirmed that they have now compiled the draft terms and conditions of the Company's Mining Licence;
- The next stage is that the draft Mining Licence has been submitted to the Ministry of Economic Development (MED), which has 30 days to respond on economic considerations (primarily the advance royalty payment); and
- Following the review of the Mining Licence by the MED the final stage is a overview by the Prime Minister's office, for which there is no specified time interval.
Christian Schaffalitzky, CEO of Eurasia Mining commented "Following on from our 25 February 2015 update we are pleased, once again, to report expeditious progress by our Russian team and the state mining agency Rosnedra, in the preparation of the Mining Licence terms and conditions, along with delivery of documentation to the MED.
"We are eager to demonstrate the viability and economics of our work to date at West Kytlim, through an accelerated move into production, upon receipt of the necessary licence approvals. Work continues apace to ensure Eurasia Mining is prudently well prepared for the production phase, to the benefit of all stakeholders and in accordance with our commitment to the Mining Licence process.
"Elsewhere within our business we continue to make progress and look forward to providing further updates at the earliest opportunity."
West Kytlim Licence Process:
West Kytlim is a PGM exploration and development interest in the Urals, Russia in which Eurasia has a 75% holding. The Company has submitted and is progressing through a Mining Licence application to allow the Company to undertake alluvial platinum mining and production from West Kytlim.
For more information please contact:
Eurasia Mining:
Christian Schaffalitzky / Michael de Villiers
Tel: +44 (0) 207 932 0418
EURASIA MINING
18 Mar 2015 07:00:27
Eurasia Mining PLC
RNS Number : 7123H
Eurasia Mining PLC
18 March 2015
EURASIA MINING PLC
("Eurasia" or the "Company")
Mining Licence Update
Eurasia Mining (LON:EUA), the platinum explorer and resource development company operating in Russia, is pleased to provide an update with positive progress in the Company's Mining Licence application in respect of the West Kytlim Alluvial Platinum Mining Project.
Highlights:
- Rosnedra has confirmed that they have now compiled the draft terms and conditions of the Company's Mining Licence;
- The next stage is that the draft Mining Licence has been submitted to the Ministry of Economic Development (MED), which has 30 days to respond on economic considerations (primarily the advance royalty payment); and
- Following the review of the Mining Licence by the MED the final stage is a overview by the Prime Minister's office, for which there is no specified time interval.
Christian Schaffalitzky, CEO of Eurasia Mining commented "Following on from our 25 February 2015 update we are pleased, once again, to report expeditious progress by our Russian team and the state mining agency Rosnedra, in the preparation of the Mining Licence terms and conditions, along with delivery of documentation to the MED.
"We are eager to demonstrate the viability and economics of our work to date at West Kytlim, through an accelerated move into production, upon receipt of the necessary licence approvals. Work continues apace to ensure Eurasia Mining is prudently well prepared for the production phase, to the benefit of all stakeholders and in accordance with our commitment to the Mining Licence process.
"Elsewhere within our business we continue to make progress and look forward to providing further updates at the earliest opportunity."
West Kytlim Licence Process:
West Kytlim is a PGM exploration and development interest in the Urals, Russia in which Eurasia has a 75% holding. The Company has submitted and is progressing through a Mining Licence application to allow the Company to undertake alluvial platinum mining and production from West Kytlim.
For more information please contact:
Eurasia Mining:
Christian Schaffalitzky / Michael de Villiers
Tel: +44 (0) 207 932 0418
na dassieht ja mal hervorragend aus
Company Q&A - Eurasia Mining boss pleased with progress
By Ian Lyall March 13 2015, 8:02am .
AIM-listed Eurasia Mining (LON:EUA) is focused on platinum group metals and operates in Russia. It has two licences, West Kytlim and Monchetundra. The former is an advanced alluvial deposit going through the permitting process, while the latter is not as far down the road to production but has drawn outside interest. Here chief executive Christian Schaffalitzky tells us a little more about the business he runs.
Can you describe the Eurasia Mining business for readers?
Eurasia Mining is listed on the London exchange – Alternative Investment Market with the code EUA. We are a mineral resources exploration and development business with a current sole focus on platinum group metals in Russian licence areas.
Our overriding and near-term objective is to secure precious metals production within our business, generating revenue and profit to make Eurasia financially self-sustaining. This would negate the need to raise funds from the capital markets and bring an end to shareholder dilution.
To achieve this end we also are open to disposal of certain interests, at an appropriate stage of project maturity, generating significant bulk cash or equity inflows to achieve the aforementioned self-sustaining objective or allow a distribution of profits to shareholders.
How well progressed are you in the pursuit of your West Kytlim production target?
I’d say we are very well progressed. At West Kytlim we hope to mine platinum in the near future subject to obtaining the necessary mining licence from the Russian authorities.
The licensing process in Russia has been a lengthy affair but we are in the very final stages. The state agency Rosnedra is preparing the necessary paperwork for submission to the Ministry of Economic Development (MED) to assess project economics amongst other things. If one assumes success at that stage, the final step is approval by the Prime Minister’s office.
Although the licensing process in Russia has been a laboured affair in times past, recently it has been impressive the manner in which the state agencies have accelerated the process and applications are proceeding in a more efficient manner. So, we are optimistic of a speedy passage through the final steps.
Successful receipt of the licence will mean we can move into the production phase. This is very exciting for the company and it is important that we manage this transition effectively and therefore we are prudently planning and preparing at the moment so that we can act expeditiously at the relevant time. After waiting for some time we do not want any operational delays to surface simply because we have not prepared thoroughly.
West Kytlim is a unique opportunity. In the directors’ view it is a low capital cost but highly rewarding venture. The low capital cost is because we are simply collecting river sands from the licence area, then washing, bagging and delivering to the local refinery for platinum production. It is as low a capital outlay as one could expect for a producing asset and is so because we are mining alluvial platinum rather than a typical hard rock deposit that requires extensive processing and treatment.
We believe the capital outlay can be debt-financed as is the normal case for Russian alluvial projects and we have amongst the team the skills and knowledge to arrange this.
Most importantly we aim to act quickly. On licence receipt we can promptly round off our plans and move, weather permitting, to acquiring short lead-time equipment and begin production. The final licence document will also enable us to be specific as to the project economics in communications with the market. We think that will be a piece of the story worth telling!
If West Kytlim has been the focus for some years, has Monchetundra just stolen the recent limelight?
Monchetundra is a licence area further north of the Urals in northwest Russia and not as far down the road to production as West Kytlim. We always felt the company balance was right with West Kytlim production focused and Monchetundra exploration focused. Both, of course, are in the platinum group metals space.
What we have seen over the years is the extensive interest in the area around our Monchetundra licences and the various strategic plays by other companies to secure and develop interests there.
We are not in the land management business at Eurasia so our focus has always been advancing the Monchetundra interest with exploration. That has been hard in recent times as the resource sector has come under pressure and finance is not free-flowing. Neither is exploration cost free; if only it were.
Consequently, of late we have undertaken more overview work, drawing together our quite extensive knowledge from the heavy exploration undertaken previously, including that funded by previous joint venture partners. This has built a formidable dataset.
The timing of this review work was fortuitous, with various parties emerging to express an interest in acquiring all or part of our interest. With our dataset to hand we have been able to provide very comprehensive information and that, as readers will appreciate, helps immeasurably in the negotiation process.
We can’t assume any outcome at this stage, which is of course the normal response you hear from companies at this point. Neither can we start to quote potential transaction structures or valuations. We can, however, say that a lot of valuable work has gone into Monchetundra over many years and we will ensure that any agreed transaction reflects that.
You have alluded to advancing discussions over new projects. What can you tell us?
That our efforts to further strengthen the Eurasia business include not only advancing of current interests, but that we are also using our extensive networks to consider a range of new opportunities.
We do this very carefully, because as a small company we can’t take on the full extent of the opportunities available but must be selective. If we can, we are looking for near-term production opportunities in the precious metals space in Russia or nearby.
There is a generational opportunity to acquire quality projects, good partners and real strategic assets without succumbing to unreasonable terms as might be the temptation in a more buoyant market.
Our collaboration with Metal Tiger helps because, provided we are both happy with an opportunity, we can share the load. At this stage in the market that’s important.
Are you confident in the Eurasia Mining business, even at this depressed stage in the resource sector cycle?
More so than for a long time. We have one asset nearing the production stage, one asset attracting acquisitive interest and a growing and strengthening new project pipeline.
Most of our peers are finding the tough resource markets a real challenge to navigate. We are not immune and share those challenges too.
Our way through this is to deliver near-term production, asset value crystallisation, new opportunities and above all – a secure and financially robust offer for investors.
By Ian Lyall March 13 2015, 8:02am .
AIM-listed Eurasia Mining (LON:EUA) is focused on platinum group metals and operates in Russia. It has two licences, West Kytlim and Monchetundra. The former is an advanced alluvial deposit going through the permitting process, while the latter is not as far down the road to production but has drawn outside interest. Here chief executive Christian Schaffalitzky tells us a little more about the business he runs.
Can you describe the Eurasia Mining business for readers?
Eurasia Mining is listed on the London exchange – Alternative Investment Market with the code EUA. We are a mineral resources exploration and development business with a current sole focus on platinum group metals in Russian licence areas.
Our overriding and near-term objective is to secure precious metals production within our business, generating revenue and profit to make Eurasia financially self-sustaining. This would negate the need to raise funds from the capital markets and bring an end to shareholder dilution.
To achieve this end we also are open to disposal of certain interests, at an appropriate stage of project maturity, generating significant bulk cash or equity inflows to achieve the aforementioned self-sustaining objective or allow a distribution of profits to shareholders.
How well progressed are you in the pursuit of your West Kytlim production target?
I’d say we are very well progressed. At West Kytlim we hope to mine platinum in the near future subject to obtaining the necessary mining licence from the Russian authorities.
The licensing process in Russia has been a lengthy affair but we are in the very final stages. The state agency Rosnedra is preparing the necessary paperwork for submission to the Ministry of Economic Development (MED) to assess project economics amongst other things. If one assumes success at that stage, the final step is approval by the Prime Minister’s office.
Although the licensing process in Russia has been a laboured affair in times past, recently it has been impressive the manner in which the state agencies have accelerated the process and applications are proceeding in a more efficient manner. So, we are optimistic of a speedy passage through the final steps.
Successful receipt of the licence will mean we can move into the production phase. This is very exciting for the company and it is important that we manage this transition effectively and therefore we are prudently planning and preparing at the moment so that we can act expeditiously at the relevant time. After waiting for some time we do not want any operational delays to surface simply because we have not prepared thoroughly.
West Kytlim is a unique opportunity. In the directors’ view it is a low capital cost but highly rewarding venture. The low capital cost is because we are simply collecting river sands from the licence area, then washing, bagging and delivering to the local refinery for platinum production. It is as low a capital outlay as one could expect for a producing asset and is so because we are mining alluvial platinum rather than a typical hard rock deposit that requires extensive processing and treatment.
We believe the capital outlay can be debt-financed as is the normal case for Russian alluvial projects and we have amongst the team the skills and knowledge to arrange this.
Most importantly we aim to act quickly. On licence receipt we can promptly round off our plans and move, weather permitting, to acquiring short lead-time equipment and begin production. The final licence document will also enable us to be specific as to the project economics in communications with the market. We think that will be a piece of the story worth telling!
If West Kytlim has been the focus for some years, has Monchetundra just stolen the recent limelight?
Monchetundra is a licence area further north of the Urals in northwest Russia and not as far down the road to production as West Kytlim. We always felt the company balance was right with West Kytlim production focused and Monchetundra exploration focused. Both, of course, are in the platinum group metals space.
What we have seen over the years is the extensive interest in the area around our Monchetundra licences and the various strategic plays by other companies to secure and develop interests there.
We are not in the land management business at Eurasia so our focus has always been advancing the Monchetundra interest with exploration. That has been hard in recent times as the resource sector has come under pressure and finance is not free-flowing. Neither is exploration cost free; if only it were.
Consequently, of late we have undertaken more overview work, drawing together our quite extensive knowledge from the heavy exploration undertaken previously, including that funded by previous joint venture partners. This has built a formidable dataset.
The timing of this review work was fortuitous, with various parties emerging to express an interest in acquiring all or part of our interest. With our dataset to hand we have been able to provide very comprehensive information and that, as readers will appreciate, helps immeasurably in the negotiation process.
We can’t assume any outcome at this stage, which is of course the normal response you hear from companies at this point. Neither can we start to quote potential transaction structures or valuations. We can, however, say that a lot of valuable work has gone into Monchetundra over many years and we will ensure that any agreed transaction reflects that.
You have alluded to advancing discussions over new projects. What can you tell us?
That our efforts to further strengthen the Eurasia business include not only advancing of current interests, but that we are also using our extensive networks to consider a range of new opportunities.
We do this very carefully, because as a small company we can’t take on the full extent of the opportunities available but must be selective. If we can, we are looking for near-term production opportunities in the precious metals space in Russia or nearby.
There is a generational opportunity to acquire quality projects, good partners and real strategic assets without succumbing to unreasonable terms as might be the temptation in a more buoyant market.
Our collaboration with Metal Tiger helps because, provided we are both happy with an opportunity, we can share the load. At this stage in the market that’s important.
Are you confident in the Eurasia Mining business, even at this depressed stage in the resource sector cycle?
More so than for a long time. We have one asset nearing the production stage, one asset attracting acquisitive interest and a growing and strengthening new project pipeline.
Most of our peers are finding the tough resource markets a real challenge to navigate. We are not immune and share those challenges too.
Our way through this is to deliver near-term production, asset value crystallisation, new opportunities and above all – a secure and financially robust offer for investors.
Eurasia Mining PLC
Mining Licence Update
EURASIA MINING PLC
("Eurasia" or the "Company")
Strategic and Operational update
Eurasia Mining (LON:EUA), the platinum explorer and resource development company operating in Russia, is pleased to provide a strategic and operational update for shareholders in respect of the Company's activities.
Highlights:
- West Kytlim Platinum Mining Licence key verbal approvals received and prudent operational planning well advanced;
- Approaches to acquire, or acquire an interest in, the Company's Monchetundra Licence;
- Work to identify new opportunities well advanced;
- Company proposing to form two new operational divisions, namely Eurasia Exploration and Eurasia Development & Production.
Christian Schaffalitzky, CEO of Eurasia Mining commented "We are pleased to inform and update shareholders on strategic and operational changes to ensure the market is fully aware of the activities being undertaken by the Eurasia team.
We believe significant progress has been achieved recently in respect of existing assets and in the search, evaluation and negotiation of new interests. The proposed strategic restructuring of the business takes account of recent developments and positions the business for the opportunities available to the Company.
For the sake of clarity I would confirm that the content of this news announcement is based on the Director's best knowledge or belief as to the matters referenced therein. Mineral exploration and development is inherently a risk based enterprise and not all events or progress anticipated will transpire and investors should be clear in this regard when considering the information below.
The Board of Eurasia Mining are confident in the measures being taken by the Company to secure value from existing assets and build additional opportunities to further enhance our Investment Proposition."
West Kytlim:
West Kytlim is a PGM exploration and development interest in the Urals, Russia in which Eurasia has a 75% holding. The Company has submitted and is progressing through a Mining Licence application to allow the Company to undertake alluvial Platinum mining and production from West Kytlim.
As announced to the market on 25 February, Eurasia has now received verbal confirmation of the Department of Defence and Federal Security Service approval of the Company's Mining Licence application. We believe these are key steps and now lead us into the final application stages with Rosnedra now compiling the Mining Licence terms and conditions for review and feedback from the Ministry of Economic Development. Subject to satisfactory completion of this stage our application will then be forwarded to the President's office for the final stage of approval.
We are respectful of due process and the requirement of the local ministries to properly review and consider our application. However we are undertaking prudent work to review, plan and budget for the measures required post Mining Licence to ensure production operations can, weather permitting, be commenced as soon as possible.
We have completed detailed operational plans for West Kytlim development, against which debt financing negotiations can be undertaken. Those operational plans are subject to the specifics of the final Mining Licence, but having a planning structure in place enables us to amend and adapt provisional plans more easily than awaiting the Mining Licence and preparing plans thereafter which could lead to operational delays.
The Eurasia team includes management with a close knowledge of mining finance in-country, and we have confirmed the general availability of debt based mine finance for licenced alluvial operations such as West Kytlim, particularly given the moderate capital expenditure requirements to commence operations. We are now working to finalise the specific sources of prospective finance for our West Kytlim project as a prudent measure in readiness for commencement of operations.
We believe the advance planning we have undertaken will enable the Company to act swiftly on receipt of the Mining Licence, which is in the interests of the Company and importantly, the local authorities in-country who are keen to see commercial operations flourish and the local employees and contractors who will benefit financially from the extensive work opportunities that will be available.
The practicalities of Mining Licence confirmation and refinement of our operational plans at West Kytlim will enable the generation of financial data in respect of estimated revenues and project profitability. This information will enable us to update the market on the financial specifics pertaining to West Kytlim and demonstrate the benefit of all the project preparatory work we have undertaken over a number of years.
As part of this work, we are also preparing to commission an independent assessment and valuation of the West Kytlim project. This report will provide our shareholders and the market a detailed understanding of the project, based on the operational framework provided by the Mining Licence. It will also assist third parties in confirming the Company's technical and financial work completed in preparing West Kytlim for platinum mining.
Overall Eurasia Mining is grateful to our in-country advisors and regulatory authorities for the assistance provided and the recent progression of our Mining Licence application. We are working hard to encourage continuing momentum. Investors can be assured that the hard work of planning and preparation has also been undertaken, so we are operationally ready when the approval to proceed to mining is received.
Monchetundra:
The Company holds an 80% interest in the Monchetundra PGM project on the Kola Peninsula in Russia. The exploration licence in respect of this property was renewed in late 2013 with a 3 year term expiring in December 2016.
Significant exploration work has been undertaken on the property to date, much of this under Joint Venture with Anglo Platinum with Anglo funding operational activities. That joint venture formally ended in 2014 when Anglo took a strategic decision to focus on their South African PGM operations. As a result Eurasia Mining was able to re-acquire Anglo's interest and retain for the company and shareholders the benefit of the considerable multi-year exploration expenditure on the property.
The work undertaken to date has delivered a considerable quantity of data and extensive PGM and base metal mineralisation has been identified most notably in the West Nittis and Loipishnyun areas of the licence.
A detailed work programme for future activities at Monchetundra has been prepared. However since then Eurasia Mining has received two approaches from third parties who have expressed an interest in acquiring outright, or acquiring an interest in, the Monchetundra licence.
The Company has therefore engaged in commercial negotiations with both parties with a view to considering and negotiating a suitable transaction that is in the interests of all parties, but specifically Eurasia shareholders. This process has recently included site visits to the project and from which positive feedback has been received.
Whilst there can be no certainty that any transaction can be concluded in an acceptable manner, the company is working with the relevant third parties in an attempt to reach an acceptable conclusion, if possible.
New Opportunities:
The Company has been working for some time on the identification and consideration of new project opportunities. Following the collaboration with Metal Tiger plc announced on 29 December 2014 the review of new project opportunities has accelerated.
At present the Company has numerous project opportunities under review, but is focusing its attention on certain opportunities with near term production possibilities. This focus is in line with the Company's desire to become self-financing through the inclusion of production assets sitting alongside and financing exploration opportunities.
There is no guarantee that these transactions will progress, but if they do further announcements will be made at that time. In all cases we are ensuring that financing and managerial requirements for any new interests are well within our means, and this is assisted in part should Metal Tiger plc agree to participate with Eurasia Mining on equal terms, as is proposed within the collaboration announced on 29 December 2014.
New Business Structure:
Following a review of the existing company and subject to successful progress at West Kytlim and with regard to new acquisition opportunities Eurasia Mining will create two distinct operational areas namely, exploration interests and development to production and/or already producing assets.
Reflecting the need to structure the Company in an efficient and effective manner it is the Board's intention to create two new internal divisions named Eurasia Exploration and Eurasia Development and Production, in which to allocate and manage these exploration and production operations.
We will advise shareholders if and when this structural business change is implemented.
For more information please contact:
Eurasia Mining:
Christian Schaffalitzky / Michael de Villiers
Tel: +44 (0) 207 932 0418
Katy Mitchell, WH Ireland Limited
Tel: +44 (0) 161 832 2174
Mining Licence Update
EURASIA MINING PLC
("Eurasia" or the "Company")
Strategic and Operational update
Eurasia Mining (LON:EUA), the platinum explorer and resource development company operating in Russia, is pleased to provide a strategic and operational update for shareholders in respect of the Company's activities.
Highlights:
- West Kytlim Platinum Mining Licence key verbal approvals received and prudent operational planning well advanced;
- Approaches to acquire, or acquire an interest in, the Company's Monchetundra Licence;
- Work to identify new opportunities well advanced;
- Company proposing to form two new operational divisions, namely Eurasia Exploration and Eurasia Development & Production.
Christian Schaffalitzky, CEO of Eurasia Mining commented "We are pleased to inform and update shareholders on strategic and operational changes to ensure the market is fully aware of the activities being undertaken by the Eurasia team.
We believe significant progress has been achieved recently in respect of existing assets and in the search, evaluation and negotiation of new interests. The proposed strategic restructuring of the business takes account of recent developments and positions the business for the opportunities available to the Company.
For the sake of clarity I would confirm that the content of this news announcement is based on the Director's best knowledge or belief as to the matters referenced therein. Mineral exploration and development is inherently a risk based enterprise and not all events or progress anticipated will transpire and investors should be clear in this regard when considering the information below.
The Board of Eurasia Mining are confident in the measures being taken by the Company to secure value from existing assets and build additional opportunities to further enhance our Investment Proposition."
West Kytlim:
West Kytlim is a PGM exploration and development interest in the Urals, Russia in which Eurasia has a 75% holding. The Company has submitted and is progressing through a Mining Licence application to allow the Company to undertake alluvial Platinum mining and production from West Kytlim.
As announced to the market on 25 February, Eurasia has now received verbal confirmation of the Department of Defence and Federal Security Service approval of the Company's Mining Licence application. We believe these are key steps and now lead us into the final application stages with Rosnedra now compiling the Mining Licence terms and conditions for review and feedback from the Ministry of Economic Development. Subject to satisfactory completion of this stage our application will then be forwarded to the President's office for the final stage of approval.
We are respectful of due process and the requirement of the local ministries to properly review and consider our application. However we are undertaking prudent work to review, plan and budget for the measures required post Mining Licence to ensure production operations can, weather permitting, be commenced as soon as possible.
We have completed detailed operational plans for West Kytlim development, against which debt financing negotiations can be undertaken. Those operational plans are subject to the specifics of the final Mining Licence, but having a planning structure in place enables us to amend and adapt provisional plans more easily than awaiting the Mining Licence and preparing plans thereafter which could lead to operational delays.
The Eurasia team includes management with a close knowledge of mining finance in-country, and we have confirmed the general availability of debt based mine finance for licenced alluvial operations such as West Kytlim, particularly given the moderate capital expenditure requirements to commence operations. We are now working to finalise the specific sources of prospective finance for our West Kytlim project as a prudent measure in readiness for commencement of operations.
We believe the advance planning we have undertaken will enable the Company to act swiftly on receipt of the Mining Licence, which is in the interests of the Company and importantly, the local authorities in-country who are keen to see commercial operations flourish and the local employees and contractors who will benefit financially from the extensive work opportunities that will be available.
The practicalities of Mining Licence confirmation and refinement of our operational plans at West Kytlim will enable the generation of financial data in respect of estimated revenues and project profitability. This information will enable us to update the market on the financial specifics pertaining to West Kytlim and demonstrate the benefit of all the project preparatory work we have undertaken over a number of years.
As part of this work, we are also preparing to commission an independent assessment and valuation of the West Kytlim project. This report will provide our shareholders and the market a detailed understanding of the project, based on the operational framework provided by the Mining Licence. It will also assist third parties in confirming the Company's technical and financial work completed in preparing West Kytlim for platinum mining.
Overall Eurasia Mining is grateful to our in-country advisors and regulatory authorities for the assistance provided and the recent progression of our Mining Licence application. We are working hard to encourage continuing momentum. Investors can be assured that the hard work of planning and preparation has also been undertaken, so we are operationally ready when the approval to proceed to mining is received.
Monchetundra:
The Company holds an 80% interest in the Monchetundra PGM project on the Kola Peninsula in Russia. The exploration licence in respect of this property was renewed in late 2013 with a 3 year term expiring in December 2016.
Significant exploration work has been undertaken on the property to date, much of this under Joint Venture with Anglo Platinum with Anglo funding operational activities. That joint venture formally ended in 2014 when Anglo took a strategic decision to focus on their South African PGM operations. As a result Eurasia Mining was able to re-acquire Anglo's interest and retain for the company and shareholders the benefit of the considerable multi-year exploration expenditure on the property.
The work undertaken to date has delivered a considerable quantity of data and extensive PGM and base metal mineralisation has been identified most notably in the West Nittis and Loipishnyun areas of the licence.
A detailed work programme for future activities at Monchetundra has been prepared. However since then Eurasia Mining has received two approaches from third parties who have expressed an interest in acquiring outright, or acquiring an interest in, the Monchetundra licence.
The Company has therefore engaged in commercial negotiations with both parties with a view to considering and negotiating a suitable transaction that is in the interests of all parties, but specifically Eurasia shareholders. This process has recently included site visits to the project and from which positive feedback has been received.
Whilst there can be no certainty that any transaction can be concluded in an acceptable manner, the company is working with the relevant third parties in an attempt to reach an acceptable conclusion, if possible.
New Opportunities:
The Company has been working for some time on the identification and consideration of new project opportunities. Following the collaboration with Metal Tiger plc announced on 29 December 2014 the review of new project opportunities has accelerated.
At present the Company has numerous project opportunities under review, but is focusing its attention on certain opportunities with near term production possibilities. This focus is in line with the Company's desire to become self-financing through the inclusion of production assets sitting alongside and financing exploration opportunities.
There is no guarantee that these transactions will progress, but if they do further announcements will be made at that time. In all cases we are ensuring that financing and managerial requirements for any new interests are well within our means, and this is assisted in part should Metal Tiger plc agree to participate with Eurasia Mining on equal terms, as is proposed within the collaboration announced on 29 December 2014.
New Business Structure:
Following a review of the existing company and subject to successful progress at West Kytlim and with regard to new acquisition opportunities Eurasia Mining will create two distinct operational areas namely, exploration interests and development to production and/or already producing assets.
Reflecting the need to structure the Company in an efficient and effective manner it is the Board's intention to create two new internal divisions named Eurasia Exploration and Eurasia Development and Production, in which to allocate and manage these exploration and production operations.
We will advise shareholders if and when this structural business change is implemented.
For more information please contact:
Eurasia Mining:
Christian Schaffalitzky / Michael de Villiers
Tel: +44 (0) 207 932 0418
Katy Mitchell, WH Ireland Limited
Tel: +44 (0) 161 832 2174
EURASIA MINING PLC
("Eurasia" oder das "Unternehmen")
Bergbaulizenz Update
Eurasien, das Platin-Explorer und Ressourcenentwicklungsunternehmen, die in Russland, freut sich, ein Update seiner Bergbau Lizenzantrag für seine west Kytlim Projekt im Ural bieten.
Der Vorstand berichtet, dass Vertreter der russischen staatlichen Behörden haben mündlich bestätigt, dass das Verteidigungsministerium ("DOD") und Bundessicherheitsdienst ("FSB") haben Mining-Anwendung des Unternehmens genehmigt. Diese beiden Genehmigungen sind wichtige Schritte im Prozess der Erlangung einer Bergbaulizenz, aber zu diesem Zeitpunkt gibt es keine Garantie, dass die Bergbaulizenz gewährt.
Christian Schaffalitzky, CEO von Eurasia Mining kommentierte: "Wir freuen uns, weitere Fortschritte in unserer Anwendung, eine Bergbaulizenz für West Kytlim Projekt des Unternehmens sichern zu melden.
Wir glauben, dass dieses Projekt in die Attraktivität von einer Produktionsperspektive einzigartig, mit geringer Kapitalbindung Kosten, einfache Bedienung und kurze Fristen gesetzt, um frühe Einnahmen Generation. Als Ergebnis Schlüssel Fortschritt in unseren Bergbaulizenz Anwendung ist besonders wichtig für das Unternehmen und seine Aktionäre, wenn sie versuchen, die Kristallisation des in West Kytlim erzeugten Wert zu sichern.
Wir werden weitere Fortschritte so schnell wie möglich zu melden. "
("Eurasia" oder das "Unternehmen")
Bergbaulizenz Update
Eurasien, das Platin-Explorer und Ressourcenentwicklungsunternehmen, die in Russland, freut sich, ein Update seiner Bergbau Lizenzantrag für seine west Kytlim Projekt im Ural bieten.
Der Vorstand berichtet, dass Vertreter der russischen staatlichen Behörden haben mündlich bestätigt, dass das Verteidigungsministerium ("DOD") und Bundessicherheitsdienst ("FSB") haben Mining-Anwendung des Unternehmens genehmigt. Diese beiden Genehmigungen sind wichtige Schritte im Prozess der Erlangung einer Bergbaulizenz, aber zu diesem Zeitpunkt gibt es keine Garantie, dass die Bergbaulizenz gewährt.
Christian Schaffalitzky, CEO von Eurasia Mining kommentierte: "Wir freuen uns, weitere Fortschritte in unserer Anwendung, eine Bergbaulizenz für West Kytlim Projekt des Unternehmens sichern zu melden.
Wir glauben, dass dieses Projekt in die Attraktivität von einer Produktionsperspektive einzigartig, mit geringer Kapitalbindung Kosten, einfache Bedienung und kurze Fristen gesetzt, um frühe Einnahmen Generation. Als Ergebnis Schlüssel Fortschritt in unseren Bergbaulizenz Anwendung ist besonders wichtig für das Unternehmen und seine Aktionäre, wenn sie versuchen, die Kristallisation des in West Kytlim erzeugten Wert zu sichern.
Wir werden weitere Fortschritte so schnell wie möglich zu melden. "
Trading Spotlight
Eurasia Mining, the platinum group metals and gold exploration and development company, has taken over Urals Alluvial Platinum (UAP).
It has entered into an agreement by which its wholly owned subsidiary Eurasia Investments (EIL) will acquire from Rustenburg Platinum Mines (Cyprus), indirectly a wholly owned subsidiary of Anglo American Platinum, the remaining 50% of UAP which it does not already own.
Dr Michael Martineau, chairman of Eurasia, commented: "Eurasia has been executing and funding a work programme on the Monchetundra and West Kytlim projects for a significant period of time. Our work has produced attractive assets which, particularly in the case of West Kytlim, are nearing production.
"It is therefore an excellent outcome for Eurasia that we should enter this next phase with double the original interest in the projects. The doubling of Eurasia's equity interest in UAP also provides greater flexibility to bring in new partners or to restructure the holdings for improved efficiency of future operations, should the company wish to do so.
It has entered into an agreement by which its wholly owned subsidiary Eurasia Investments (EIL) will acquire from Rustenburg Platinum Mines (Cyprus), indirectly a wholly owned subsidiary of Anglo American Platinum, the remaining 50% of UAP which it does not already own.
Dr Michael Martineau, chairman of Eurasia, commented: "Eurasia has been executing and funding a work programme on the Monchetundra and West Kytlim projects for a significant period of time. Our work has produced attractive assets which, particularly in the case of West Kytlim, are nearing production.
"It is therefore an excellent outcome for Eurasia that we should enter this next phase with double the original interest in the projects. The doubling of Eurasia's equity interest in UAP also provides greater flexibility to bring in new partners or to restructure the holdings for improved efficiency of future operations, should the company wish to do so.
da geht es gut voran
Eurasia gets approval for multi-site operation
By StockMarketWire | Tue, 22nd April 2014 - 07:47
Eurasia Mining says that following GKZ (State Reserves Commission) approval of new reserves at West Kytlim, RosNedra (Ministry of Natural Resources) has now approved and registered the reserves on the state balance. It says that as has been previously outlined, the approval of increased mineable reserves at a number of locations within the Tylai-Kosvinsky Placer permits development of multi-worksite operation, this represents a significant departure from previously envisaged single site production. Prefeasibility economic assessment, completed as a requirement for reserves approval, demonstrates that production costs for the multiple site operation should fall well within the lowest cost quartile of operating costs for platinum producers worldwide. The ongoing increase of Reserves at West Kytlim is achieved through a process of proving ore continuity within discovered areas of P category resources by completing detailed infill drilling and trenching. Significant P category resources remain within the 171 Km2 exploration licence area. The company intends to continue to convert resources to Reserves in parallel with production and to thereby expand the operation's mine life. Drilling during 2013 has increased C1 and C2 Reserves of contained raw platinum by 35% from 1,689Kg (RNS 12th April 2013) to 2,283Kg (80,495oz). This increase arises from conversion of previously established P Resources at TK Area 9 West. During 2013 Eurasia completed 1,043 metres of core drilling, 17 metres of pitting and 95.4m of large diameter verification drilling using a pit digger drill.Managing director Christian Schaffalitzky said: "The 35% increase in our approved reserve base follows on from a 123% increase in 2012/13 and is a testament to the knowledge and experience of the geologists and other staff at our Ekaterinburg office. "The project is now set to achieve the economies of scale we had aimed for and we look forward to further reserves increases that would extend the life of mine of the project further. In addition Eurasia is using outcomes of our exploration success at West Kytlim in an assessment of a number of identified alluvial platinum opportunities within the Urals Platinum Belt."
Eurasia gets approval for multi-site operation
By StockMarketWire | Tue, 22nd April 2014 - 07:47
Eurasia Mining says that following GKZ (State Reserves Commission) approval of new reserves at West Kytlim, RosNedra (Ministry of Natural Resources) has now approved and registered the reserves on the state balance. It says that as has been previously outlined, the approval of increased mineable reserves at a number of locations within the Tylai-Kosvinsky Placer permits development of multi-worksite operation, this represents a significant departure from previously envisaged single site production. Prefeasibility economic assessment, completed as a requirement for reserves approval, demonstrates that production costs for the multiple site operation should fall well within the lowest cost quartile of operating costs for platinum producers worldwide. The ongoing increase of Reserves at West Kytlim is achieved through a process of proving ore continuity within discovered areas of P category resources by completing detailed infill drilling and trenching. Significant P category resources remain within the 171 Km2 exploration licence area. The company intends to continue to convert resources to Reserves in parallel with production and to thereby expand the operation's mine life. Drilling during 2013 has increased C1 and C2 Reserves of contained raw platinum by 35% from 1,689Kg (RNS 12th April 2013) to 2,283Kg (80,495oz). This increase arises from conversion of previously established P Resources at TK Area 9 West. During 2013 Eurasia completed 1,043 metres of core drilling, 17 metres of pitting and 95.4m of large diameter verification drilling using a pit digger drill.Managing director Christian Schaffalitzky said: "The 35% increase in our approved reserve base follows on from a 123% increase in 2012/13 and is a testament to the knowledge and experience of the geologists and other staff at our Ekaterinburg office. "The project is now set to achieve the economies of scale we had aimed for and we look forward to further reserves increases that would extend the life of mine of the project further. In addition Eurasia is using outcomes of our exploration success at West Kytlim in an assessment of a number of identified alluvial platinum opportunities within the Urals Platinum Belt."
13.03.2014 10:25 | Redaktion
Anhaltende Streiks in Südafrika treiben Platin-ETF-Bestände auf Rekordhoch
Die fortwährenden Bestreikungen der südafrikanischen Minen hat die Nettobestände von physisch besicherten Platin-ETFs deutlich steigen lassen, wie Resource Investor gestern berichtete. Mit gut 2,215 Millionen Unzen erreichten diese inzwischen einen neuen Rekord.
In den vergangen sieben Wochen seien bei sämtlichen Platin-ETFs nicht unerhebliche Zuflüsse verzeichnet worden. Die Bestände des weltgrößten Platin-ETF NewPlat etwa stiegen auf 908.811 Unzen. Allein am Montag seien Zuflüsse von 4.000 Unzen verzeichnet worden. Bis zum Ende der Woche könnten die Bestände des in Johannesburg gelisteten ETF so geschätzte 944.000 Unzen erreichen.
Der Londoner ETFS Physical Platinum verzeichnete am Montag sogar Zuflüsse von 4.505 Unzen und verfügt aktuell so über Bestände von gut 325.000 Unzen. Der in den USA gelistete ETFS Physical Platinum Shares hält aktuell 526.618 Unzen des Edelmetalls.
Nach Meinung der Analysten von Citi könnten die Bestände auch weiter in einem derart rasanten Tempo steigen, sollte im Hinblick auf die Löhne der Minenarbeiter auch weiterhin keine Lösung zustande kommen und sich die Streiks entsprechend weiter in die Länge ziehen.
Anhaltende Streiks in Südafrika treiben Platin-ETF-Bestände auf Rekordhoch
Die fortwährenden Bestreikungen der südafrikanischen Minen hat die Nettobestände von physisch besicherten Platin-ETFs deutlich steigen lassen, wie Resource Investor gestern berichtete. Mit gut 2,215 Millionen Unzen erreichten diese inzwischen einen neuen Rekord.
In den vergangen sieben Wochen seien bei sämtlichen Platin-ETFs nicht unerhebliche Zuflüsse verzeichnet worden. Die Bestände des weltgrößten Platin-ETF NewPlat etwa stiegen auf 908.811 Unzen. Allein am Montag seien Zuflüsse von 4.000 Unzen verzeichnet worden. Bis zum Ende der Woche könnten die Bestände des in Johannesburg gelisteten ETF so geschätzte 944.000 Unzen erreichen.
Der Londoner ETFS Physical Platinum verzeichnete am Montag sogar Zuflüsse von 4.505 Unzen und verfügt aktuell so über Bestände von gut 325.000 Unzen. Der in den USA gelistete ETFS Physical Platinum Shares hält aktuell 526.618 Unzen des Edelmetalls.
Nach Meinung der Analysten von Citi könnten die Bestände auch weiter in einem derart rasanten Tempo steigen, sollte im Hinblick auf die Löhne der Minenarbeiter auch weiterhin keine Lösung zustande kommen und sich die Streiks entsprechend weiter in die Länge ziehen.
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