Business
Rosgeo JV Update
Rosgeo JV Update.
About this update from Eurasia Mining Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8640B\n Eurasia Mining PLC\n 15 June 2021\n \n \n \n \n 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.\n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN EU REGULATION NO. 596/2014 AND IS IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 7 OF THAT REGULATION.\n \n \n \n \n \n \n \n \n 15 June 2021\n \n \n \n \n \n Eurasia Mining Plc\n \n \n \n \n \n Rosgeo JV Update\n \n \n Eurasia Mining Plc (\"Eurasia\" or the \"Company\"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce an update on the Rosgeo JV.\n \n \n \n \n \n As announced via RNS of 26 March 2021, Eurasia signed a binding agreement to create a joint venture with Rosgeo in which Eurasia will own a 75% equity stake in nine PGM and battery metals assets (four of which are post Russian Feasibility Study with state approved reserves) with a total of 104.6Moz of Platinum equivalent Russian Code reserves and resources in the immediate vicinity of the Company's Monchetundra Project in the Kola Peninsula.\n \n \n \n \n \n The Company is pleased to announce that the first joint venture company, Monchegorskoe LLC, was created to hold the licence for the Nyud open pit PGM and battery metals deposit (\"Nyud\"). Eurasia's 100% subsidiary Yuksporskaya Mining Company / Yuksporskaya Gornaya Kompaniya (\"YGK\") has signed a notarised agreement with Rosgeo Group company pursuant to which YGK will become a 75% shareholder in Monchegorskoe LLC after the licence for Nyud is transferred from Rosgeo to Monchegorskoe LLC. Euraisa, through YGK, will also have a right to acquire Rosego's 25% shareholding in Monchegorskoe LLC upon the completion of a JORC Code compliant competent persons report on Nyud.\n \n \n \n \n \n Christian Schaffalitzky, Executive Chairman of Eurasia commented: \n \n \"\n \n \n The Directors are committed to maximising the value for all shareholders, and thus committed to advance the Rosgeo JV concurrently with the progress we are making on our strategy as announced on 12 May\".\n \n \n \n \n \n \n James Nieuwenhuys, CEO and Managing Di...