Eurasia Mining hopes to commence production of platinum group metals (pgms) at its West Kytlim operation in the Urals next summer, the firm's Managing Director has stated.

Production is set to begin once mining licences are granted by Russia's central government, according to Christian Schaffalitzky.
The AIM-listed firm has targeted annual production of 15,000 oz of pgms from the operation, resulting in revenues of between £250,000 and £1.5 million for the next ten years, growthcompany.co.uk reports.

Anglo Platinum is expected to fund a bankable feasibility study at the site, and in so doing accrue a 50 per cent interest.

This would leave Eurasia with a 38 per cent stake in the project.

Mr Schaffalitzky also confirmed that Eurasia's three licence areas in its 60 per cent-owned operation in the Kola region had yielded encouraging grades and that a new find at the Volchetundra site has shown intersections of 44.6 metres at 1.7 grammes of pgms per tonne of ore and 2.5 metres at 4.7 grammes per tonne.

Source:

Eurasia plans for production, 06/11/07
http://www.growthcompany.co.uk/news-and-comment/262285/eurasia-plans-for-production.thtml

http://www.eurasiamining.co.uk/

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