Business
Monchetundra Application & West Kytlim Update
Monchetundra Application & West Kytlim Update.
About this update from Eurasia Mining Plc
[{"type":"text","content":"\n \nRNS Number : 4533Y Eurasia Mining PLC 05 December 2017 \n\nEurasia Mining plc (AIM: EUA)\n(\"Eurasia\" or the \"Company\")\n \n \nMonchetundra mine permit application lodged and West Kytlim reserves and resources and project update\n \n \n \nHighlights:\n- Monchetundra project mining license application completed and submitted for approval\n- Eurasia team continuing to mine at West Kytlim, with final closure for the 2017 season imminent\n- New exploration license applications made adjacent West Kytlim mining license\n \nEurasia, the London listed platinum group metals and gold producer, is pleased to announce that the application for a mining permit at its Monchetundra Project on Kola Peninsula has been officially lodged for approval at Rosnedra, the Russian federal commission on subsoil use. Monchetundra is a major Platinum Group Mineral ('PGM') and base metals project with state approved reserves plus resources of 2 million ounces PGM (predominantly palladium) with additional base metal and gold credits. A discovery certificate, guaranteeing mining rights was issued to the company in July of this year. (See RNS dated 17 July 2017)\n \nAn update is also provided below on the 2017 mining season at the West Kytlim platinum and gold operating mine in the Ural Mountains, and the plans for the projects development through 2018.\n \nChristian Schaffalitzky, Executive Chairman at Eurasia commented \"We are very pleased to have submitted the Monchetundra mining license application, our second application in just over three years. We are hopeful for a reasonable processing time and have the in-house knowledge and experience to make the process as smooth as is possible. We look forward to updating on the application's progress in due course. Meanwhile we continue to make progress at our West Kytlim Mine which is expected to temporarily close for the winter season, as usual, before the end of the month. Production volumes are considerably less than anticipated due to continued optimisations and modifications required to the machinery on-site. We are actively working on new commercial arrangements to upscale the operation for the 2018 mining season\".\n \n \nProjects Update\n \nMonchetundra: Summar...