Eurasia Mining extends Monchetundra licence in Russia

Eurasia Mining said Friday its Monchetundra exploration licence for palladium mineralisation in the Kola Peninsula in Russia has been extended for another year.

Eurasia Mining said Friday its Monchetundra exploration licence for palladium mineralisation in the Kola Peninsula in Russia has been extended for another year.

The company also hopes to apply for another production licence when it expires in December.

Eurasia has identified platinum group metals and base metal mineralisation in the licence area of Loipishnyun and West Nittis.

In Loipishnyun, the company discovered consistent grades of one to 1.3 grams per tonne of platinum and palladium over intercepts of 10 to 30 metres, at a depth of 150 metres.

West Nittis, about nine kilometres north of Loipishnyun, has revealed gold, palladium and platinum with a stratiform zone grading two to 15 grams per tonne.

Managing Director Christian Schaffalitzky said: "Now that the exploration licence has been extended for a further year, we aim to complete an application for one if not two areas for mining within the Monchetundra licence area."

Eurasia holds a 60% interest in the licence through its holding in Urals Alluvial Platinum, owned jointly with Anglo Platinum.

RD

Recommended

Imperial Brands has an 8.3% yield – but what’s the catch?
Share tips

Imperial Brands has an 8.3% yield – but what’s the catch?

Tobacco company Imperial Brands boasts an impressive dividend yield, and the shares look cheap. But investors should beware, says Rupert Hargreaves. H…
20 May 2022
Investing in drugmakers: uncommon profits from curing rare diseases
Share tips

Investing in drugmakers: uncommon profits from curing rare diseases

Treatments for medical conditions with only a small number of sufferers can still be very attractive for pharmaceutical companies and investors becaus…
20 May 2022
Share tips of the week – 20 May
Share tips

Share tips of the week – 20 May

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
20 May 2022
Delivering profits: should you buy Royal Mail shares?
Share tips

Delivering profits: should you buy Royal Mail shares?

The volume of parcels delivered by Royal Mail soared during the pandemic, and so did its profits. But it has been coming under pressure lately. So, as…
19 May 2022

Most Popular

The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves looks at the FTSE 100’s top yielding stocks for income investors to consider.
18 May 2022
Aviva: a share for income investors to tuck away
Share tips

Aviva: a share for income investors to tuck away

Insurance giant Aviva is one of the highest yielding stocks in the FTSE 100 – and it’s cheap, too, making it a tempting target for income investors. R…
18 May 2022
Despite the crypto crash, bitcoin still has a bright future
Bitcoin & crypto

Despite the crypto crash, bitcoin still has a bright future

Cryptocurrencies have crashed hard, with bitcoin down by more than 50% from its peak. But, says Dominic Frisby, bitcoin still has a future – it is the…
19 May 2022