Christian Schaffalitzky speaks about Eurasia Mining three projects in Russia.
Monchetundra mining license project contains state approved reserves and resources of 2 million ounces PGM with a Palladium: a Platinum ratio of 2:1 and an in-situ value of approximately US$2bn(an internal calculation based on London Metal Exchange January 2018 spot metal prices.
The West Kytlim operating mine (of which the Company owns 68%), which is the second largest alluvial platinum reserve in the world currently, with 2,283 kilograms of raw platinum in reserves, with resources and resource potential to a further 10 tonnes of raw platinum.
The Monchetundra Project (of which the Company owns 80%), has state-approved reserves and resources of 2 million ounces of palladium equivalent (predominantly palladium, and includes 28,124 tonnes of copper and 30,410 tonnes of nickel), resulting in a total in-situ metal value of approximately USD$2 billion, before metal recoveries and all costs.
Eurasia has in place (signed October 2016) an EPCF (Engineering Procurement Construction and Financing) contract with Sinosteel, a state-owned Chinese corporation focused on mining.
