Eurasia Mining PLC

Published : July 27th, 2016

West Kytlim Mining operation update - July 2016

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Keywords :   Consequence | Diesel | Gold Mine | Ireland | Lead | Platinum | Water |

West Kytlim Mining operation update - July 2016

Eurasia Mining plc (AIM: EUA)

('Eurasia' or the 'Company')

West Kytlim Mining operation update - July 2016

Eurasia Mining plc, the PGM and gold mining company, is pleased to update on developments at its West Kytlim platinum and gold mine. As reported on 21 June 2016, machinery and personnel from both Eurasia and its contractor SK Region-Stroy ('SKRS') are working at the site building necessary infrastructure and preparing open pits for mining. Work remains on schedule with the first black sand platinum and gold bearing concentrates planned for shipment for refining by mid -August 2016.


- Machinery including two excavators, two bulldozers, three dump trucks and one loader are being operated on a shift rota;

- Water pond to manage processing water now fully excavated;

- Work is continuing on a trench to protect the open pit from water ingress;

- Southern end of tailings dump retaining wall now complete, work continues at the northern end;

- Some washplant components including conveyer belts and parts of the sluices have arrived, other components due;

- Construction has commenced on the field laboratory which will upgrade concentrates ahead of shipping for refining.

Further detail

Excellent progress has been made by the team onsite at the West Kytlim Project in the five weeks since commencing the operation. The preparatory work necessary to organise a safe, effective and environmentally sound work site to mine an alluvial orebody is now well advanced. As described previously, (see RNS's date 25 May 2016 And 21 June 1016), the current phase of operations is a start-up operation utilising diesel powered machinery to produce near and at surface ore bodies in the area known as Malaya Sosnovka. Significant capital expansion to include draglines operating on mains grid power is planned for year 2 and for the projected ten-year life of mine.

Once preparatory work has been completed the focus will immediately shift to production from the 5 defined reserve blocks in the Malaya Sosnovka area. Critical elements of the washplant have arrived to site ahead of time while other longer lead time parts are now due. The washplant when constructed will have sufficient capacity to fulfil the 2016 mining schedule. A second washplant owned by Eurasia is being refurbished and can be used to process a small volume of metal bearing gravels before the main washplant is installed.

Documentation and reporting;

The Exploration Project Report covering upgrade of Resource blocks to Reserves, on the entire 21Km mining licence will be submitted in the coming weeks. Under the terms of the agreement with SKRS, Eurasia are responsible for exploration on the licence which will be phased to ensure supply of sufficient reserves for the mining operation.

Christian Schaffalitzky, MD at Eurasia Mining commented'

'Our 2016 field season is off to an excellent start thanks to the experienced field personnel in both Eurasia and SKRS. As a consequence we are now a matter of weeks away from producing our first concentrates for refining with no major delays envisaged. We anticipate that the final components of the washplant will be delivered and the washplant commissioned within two to three weeks, which gives us enough time to complete the tailings dam and install the final elements of the mine design, including the facility for upgrading to a shippable black sand concentrate. We are also finalizing our plans for metal refining which will be announced shortly.'


Eurasia Mining Plc

Christian Schaffalitzky/Michael de Villiers

+44 (0)207 932 0418

WH Ireland Limited

Katy Mitchell/Liam Gribben

+44 (0)161 832 2174

Beaufort Securities

Elliot Hance

+44 (0)207 382 8300

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Data and Statistics for these countries : Ireland | All
Gold and Silver Prices for these countries : Ireland | All

Eurasia Mining PLC

ISIN : GB0003230421
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Eurasia M is a nickel and palladium producing company based in United kingdom.

Eurasia M produces nickel, palladium, cobalt, copper, gold, ilmenite, platinum, rhodium, titanium and vanadium in Russia.

Its main assets in production are KOLA PENINSULA and KOLA PENINSULA in Russia and its main exploration properties are URALS PLATINUM PROJECT and URALS BEDROCK in Russia.

Eurasia M is listed in United Kingdom. Its market capitalisation is GBX 10.2 billions as of today (US$ 12.2 billions, € 10.7 billions).

Its stock quote reached its highest recent level on May 15, 1998 at GBX 95.00, and its lowest recent point on November 24, 2017 at GBX 0.00.

Eurasia M has 1 858 369 208 shares outstanding.

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Corporate news of Eurasia Mining PLC
8/1/2016Loan Agreement and Issue of Equity
7/28/2016Platinum refining and sales agreements
7/27/2016West Kytlim Mining operation update - July 2016
7/14/2016Audited results for the year ended 31 December 2015
7/13/2016Annual Results
7/4/2016Semenovsky Tailings Project & receipt of assays
6/30/2016Result of AGM
6/21/2016Mining start-up at West Kytlim
6/7/2016Annual Results for the 12 months ended 31 Dec 2015
5/31/2016Issue of Equity and Repayment of Debt
5/25/2016Contract Mining at West Kytlim
5/12/2016Issue of Equity
4/14/2015Business Milestone & Strategic Plan Update
11/27/2014Mining Licence Update
10/22/2014Award of Discovery Certificate
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