Eurasia Mining PLC (AIM:EUA) is an international mineral exploration company, focussed on Russia, exploring for platinum group metals (PGMs) and gold through self-funded exploration targets and joint venture partnerships with strategic operators and local partners. Projects are subject to an initial evaluation for viability and once this is established further exploration work is carried out to feasibility study level. It is then the company's intention to either proceed to develop the project to production or partner the project with a suitable operator.
Eurasia is currently evaluating several gold targets in Eastern Russia including the Monchetundra Project in the Kola Peninsula, the West Kytlim Mine in the Ural Mountains and the Semenovsky tailings Project in Bashkiria.
The open-pit West Kytlim Mine is the second largest alluvial PGM reserve in the world and produced 165kg of platinum in 2018.
Meanwhile, The company has been developing its larger Monchetundra asset towards production which is estimated to hold 2 million ounces of palladium & platinum equivalent. An engineering, procurement, construction (EPC) and financing agreement is in place with Chinese group Sinosteel for the development of the mine.