REG - Eurasia Mining PLC - Update with respect to the Rosgeo Agreement

Eurasia MiningAnnouncement

24/01/2023 14:30

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RNS Number : 7286N  Eurasia Mining PLC  24 January 2023

24 January 2023

Eurasia Mining Plc

 Update with respect to the Rosgeo Agreement

Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum,
rhodium, iridium and gold producing company, notes the recent share price
increase and speculation regarding the Nyud licence. The Company notes that
the Nyud exploration licence was granted to OOO Monchegorskoye in mid-December
2022, a company established and  owned by Rosgeo.

The Nyud exploration licence is adjacent to the Company's mining permit in
Monchegorsk, Kola Peninsula Russia, and was applied for and progressed by
Rosgeo. OOO Monchegorskoye was incorporated by Rosgeo for the purposes of
establishing a joint venture to develop the Nyud Project with Eurasia's 100%
owned subsidiary Yuksporskaya Mining Company, pursuant to the agreement
between Rosgeo and Eurasia as announced 26 March 2021.

Any further developments in the Rosgeo agreement are being considered and
would take place in the context of both Eurasia's sale of assets process as
outlined in previous updates to market, as well as the sanctions environment,
following recent (December 2022) updates to both UK and EU legislation.

 

 

For further information, please contact:

 Eurasia Mining Plc                             +44 (0) 20 7932 0418
 Christian Schaffalitzky / Keith Byrne
 SP Angel (Nominated Advisor and Joint Broker)  +44 (0) 20 3470 0470

 Jeff Keating / David Hignell / Adam Cowl
 Optiva Securities (Joint Broker)               +44 (0) 20 3137 1902

   Christian Dennis

 

 

NOTES TO EDITORS

 

About Eurasia Mining Plc

Eurasia Mining plc is a palladium, platinum, rhodium, iridium and gold
producing company, operating the established West Kytlim Mine in the Urals,
and also the operator of the Monchetundra Project comprising two predominantly
palladium open pit deposits located 3km away from Severonickel, one of Norilsk
Nickel's largest base metals and PGM processing facilities, near the town of
Monchegorsk on the Kola Peninsula.

A parallel business development strategy based on the Hydrogen Economy forms a
new development arm of the Company. The Company's more recent focus on the
international hydrogen and alternative fuel supply markets has been
strengthened by the appointment of two Japan-based Directors, Tamerlan
Abdikeev and Kotaro Kosaka, as well as the creation of a representative office
in Japan (noting the Japanese government's commitments to the hydrogen supply
chain and hydrogen as the primary alternative to fossil fuel based
combustion), and more recently, the appointment of Artem Matyushok, a senior
hydrogen industry executive

 

 

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