Business
Result of AGM and AGM Statement
Result of AGM and AGM Statement.
About this update from Eurasia Mining Plc
[{"type":"text","content":"\n \nRNS Number : 6219V Eurasia Mining PLC 24 July 2018 \n\nEurasia Mining plc\n \n(\"Eurasia\" or the \"Company\")\n \nResult of AGM and AGM Statement\n \nThe Company confirms the 2018 Annual General Meeting, held today the 24th July, all resolutions were duly approved.\nSpeaking at the AGM, Chairman Mr Christian Schaffalitzky said:\n\"Further to our recent updates, regarding mining at West Kytlim, and the mine permit application process at Monchetundra, which has moved quicker than most of us anticipated, I would like to take this opportunity to make some further statements on the Company's general position. \n2018 to date has really been a great success and the we believe the Company is better positioned than it has been for some years. The appointment of Techstroy as contractor for the West Kytlim platinum and gold mine has proven to be a catalyst that has driven the project into a very successful mining season. We intend to make a further statement on West Kytlim before the end of next week, and the total production is already at or around our total estimated for the entire season, i.e. about 100kg raw platinum, and that with several months remaining in the season. Grades have also been much higher than anticipated. We estimate we are running up to a maximum of 7kg of raw platinum mine product in one day throughput. Our collaboration with Techstroy has been positive, in that both parties are comfortable with their respective roles and responsibilities, with mine progress generally, and with earnings above initial Q1 and Q2 estimates. \nThe Monchetundra mine permit application process has gone very well indeed, we are now 6 months on from the official submission and have reached the office of the PM. We believe this is fast by general experience. We do not have exact timing on how long the process can take from here, our experience from permitting the West Kytlim mine in just the same manner three years ago suggests we might expect signing within three weeks, so we may receive notice soon., but this cannot be guaranteed. We will provide further updates in due course. \n \nIn terms of our financial position, we believe we are much better provisioned now with our mine generating revenue, and with a working tested solution in place we have a source of ongoing revenue to fun...