Business
Interim Results for Six Months Ended 30 June 2017
Interim Results for Six Months Ended 30 June 2017.
About this update from Eurasia Mining Plc
[{"type":"text","content":"\n \nRNS Number : 7627R Eurasia Mining PLC 26 September 2017 \n\n26 September 2017\nEurasia Mining plc\n(\"Eurasia\" or the \"Company\")\nInterim Results for the six months ended 30 June 2017\n \nEurasia Mining plc, the platinum, palladium, iridium, rhodium and gold production company, announces its interim results for the six months ended 30 June 2017. \nCHAIRMAN'S STATEMENT\nI am pleased to report to you as Executive Chairman of the board for the first time, for these, our 2017 interim accounts. On behalf of the Company, allow me to extend again a heartfelt thank you to Michael Martineau for his long years of service to the Company on his retirement as non-executive chairman earlier this year.\nOver the last few months there has been continued progress in the development of our projects which I have outlined in the operational update below. Our operating mine at West Kytlim complements our Monchetundra asset, which is nearing the end of feasibility, and these, together, create an integrated pipeline of PGM assets. Our people both in Russia and in London, continue to focus their attention on the Company's core strategy of developing these two key assets, while also pursuing potential openings at other projects throughout Russia, such as the Semenovsky tailings project where our exclusivity was extended recently.\nIn addition, we greatly welcome the turnaround in the mining sector in the past twelve months, and the consequent upswing in commodity prices.\nI would like to take this opportunity to thank all of our shareholders, stakeholders and employees for their continued support and look forward to updating the market with our progress over the coming months.\n \nChristian Schaffalitzky\nExecutive Chairman\n \n\n\n \nOPERATIONS UPDATE\nMonchetundra \nA 1.9 million ounce (reserve and resource) PGM (palladium and platinum) deposit with significant base metal credits in final stage of feasibility, in the Kola Peninsula, north west Russia\nProgress through the permitting process at Monchetundra continues as planned. The Company, through our local Russian subsidiary, filed for a Discovery Certificate for the already state approved reserves and resources of 1.9 million ounces PGM at two open-pittable deposits six kilometres southwest of the town of Monchegorsk on the Kola Peninsula. The Discovery C...