Business
Extension to Licence
Extension to Licence.
About this update from Eurasia Mining Plc
[{"type":"text","content":"\n RNS Number : 3586F Eurasia Mining PLC 08 October 2008 \n \nEurasia Mining plc\n('Eurasia' or 'the Company')\n\nEurasia Mining plc awarded extension to West Kytlim licence\n\n\nEurasia announces that it has been awarded a two year extension to its 171.3 sq km West Kytlim exploration licence in the Central Urals, Russia, where it has a Joint Venture agreement with Anglo Platinum. Pursuant to the extension the licence will now expire on 30th December 2010.\n\nIn addition, Eurasia has had its first stage TEO (Russian feasibility study) approved for an area on the Bolshaya Sosnovka River located in the West Kytlim licence area. The Company is currently submitting a resource and reserve statement (the 'Statement') to the relevant authorities for approval and registration, as part of the process for obtaining a comprehensive mining licence. The Statement is prepared in accordance with the national Russian standard on mining and minerals and a further update will be provided when the Statement is approved.\n\nThe Joint Venture is ready to commence mining on receipt of all the regulatory requirements; a process, which has been held up during 2008 due to the introduction of new mining laws in Russia. Under the terms of the Joint Venture, all exploration work up to the completion of a bankable feasibility study at West Kytlim is being funded by Anglo Platinum.\n\nExploration drilling is continuing to expand the area of reserves and potential resources in a number of areas within the licence area. In addition, bulk samples have been processed as a check of grades obtained by drilling as well as for metallurgical test work. \n\nFor more information please contact:\n\n\n\n\n\nEurasia Mining Plc\n\n\n\n\n\n\n\nChristian Schaffalitzky/ Michael de Villiers\n\n\nTel +44 (0) 207 932 0418\n\n\n\n\n\nW H Ireland Ltd\n\n\n\n\n\n\n\nDavid Youngman/Katy Mitchell\n\n\nTel +44 (0) 161 832 2174\n\n\n\n\n\nTavistock Communications\n\n\n\n\n\n\n\nAlan Piper/ Paul Young\n\n\nTel +44 (0) 207 920 3150\n\n\n\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCUUGAUUUPRGUR \n ","length":4835,...