Business
West Kytlim Platinum Production 2016 - Update
West Kytlim Platinum Production 2016 - Update.
About this update from Eurasia Mining Plc
[{"type":"text","content":"\n \nRNS Number : 0853N Eurasia Mining PLC 27 January 2016 \n\nEurasia Mining plc (AIM: EUA)\n \n(\"Eurasia\" or the \"Company\")\n \n \nWest Kytlim Platinum Production 2016 - Update\n \n \nEurasia Mining plc, the Russia focused PGM exploration and development company, is pleased to announce an update with regard to positive developments at the West Kytlim project.\n \nIn the latter half of 2015 Eurasia secured all necessary approvals and received a production licence for Platinum production at the West Kytlim project.\n \nEurasia is delighted to confirm that production preparatory work has continued in recent months and the Company remains on progress for first Platinum production in 2016. \n \nNotwithstanding the pressures evident in the mineral exploration and development sector, we consider that the West Kytlim project is a low capital cost and high margin Platinum production opportunity. The production is of alluvial platinum, gathered from river sands, washed and sent as a bagged black sand to a local refinery for Platinum smelting. As such we believe we will be able to generate revenues upon commencement of production, an event which will dramatically transform Eurasia Mining operationally and financially.\n \nThe key operational developments recently accomplished are highlighted below:\n \n- The contractor for the power line construction (OOO StroiCentre) has started engineering and ecological studies to back up the planned route surveyed last month. This work comprises flora and fauna studies as well as geotechnical drilling.\n \n- The surveying teams have completed all field work necessary for incorporation into an application for the Mining Allotment covering the initial production site at Malaya Sosnovka. Survey of the next area scheduled for mining, at Kluchiki, is underway. Mining allotment coverage within the Mining Licence area will be progressively expanded as additional production sites are sequentially added.\n \n-The Technical Design Report for the full project is underway, while the report for the initial diesel operation at Malaya Sosnovka is about to be completed. This later report is a detailed mine engineering study for a hydraulic mining operation developing Reserve blocks at the Malaya Sosnovka area, and will in due course be incorp...