Eurasia Mining PLC West Kytlim Flanks License Received (4510S)
16 Noviembre 2021 - 1:00AM
UK Regulatory
TIDMEUA
RNS Number : 4510S
Eurasia Mining PLC
16 November 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN
REGULATION NO. 596/2014 (AS IT FORMS PART OF RETAINED EU LAW AS
DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) AND IS IN
ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 7 OF THAT
REGULATION.
16 November 2021
Eurasia Mining Plc
West Kytlim Flanks License Received
Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium,
platinum, rhodium, iridium and gold producing company, is pleased
to announce that an additional exploration license has been granted
at its West Kytlim project (the "Flanks License"). The Company
applied for this license area in 2019 and the grant was
expected.
Summary Highlights:
-- The area of the Flanks License is adjacent to our current
mining license and is largely intersecting with (as well as
extending beyond) the initial exploration license that Eurasia
owned via its former joint venture with Anglo American Platinum
("Anglo JV").
-- Thus, the Flanks License area is largely known to Eurasia via
the exploration work undertaken within the Anglo JV.
-- The Flanks License is aimed at increasing the resource
available and potentially extending the life of mine at Eurasia's
West Kytlim project, where 2 additional plants have been launched
this year (in addition to 1 plant operating in the previous
years).
-- This additional license area is to ensure long term resource
for further scale ups of production, including the electrically
powered draglines aimed to further improve our operational
efficiency and our ESG credentials.
Christian Schaffalitzky, Executive Chairman of Eurasia
commented: " The Directors are delighted that we continue expanding
our presence in the Urals beyond our current mining license area
and Typil exploration license area, including to the areas known to
us through the work done within our former 15-year joint venture
with Anglo American Platinum. Once again, we have demonstrated the
capacity of our team to successfully obtain licenses and implement
our strategy ".
James Nieuwenhuys, CEO and Managing Director of Eurasia
commented: "The Board members are happy that we have once again
delivered on the promise we made to obtain the Flanks License at
our West Kytlim project, strengthening its position as the world's
largest soft rock PGM project, as we continue to successfully
execute on our plans ".
More information about the West Kytlim Flanks is set out in the
Company's announcements of 15 March 2021, 25 August 2020, 17 Dec
2019 and 4 Dec 2019.
A copy of this announcement is also available on Eurasia's
website at:
https://www.eurasiamining.co.uk/investors/news-announcements.
For further information, please contact:
Eurasia Mining Plc +44 (0) 20 7932 0418
Christian Schaffalitzky / Keith Byrne
SP Angel (Nominated Advisor and Joint Broker)
Ewan Leggat / David Hignell / Adam Cowl +44 (0) 20 3470 0470
Optiva Securities (Joint Broker)
Christian Dennis +44 (0) 20 3137 1902
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 and nickel 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.
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END
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