Eurasia’s established focus is exploration and development of platinum palladium and gold projects in Russia. Its aim is to deliver value to its shareholders by leveraging the significant experience of its directors and management team to advance our licences and to acquire new projects.
The company continues to advance its two key exploration licences at West Kytlim in the Central Urals and Monchetundra on the Kola Peninsula. At West Kytlim, ore reserves have been approved and we await issue of a permit to commence production. Meanwhile ongoing drilling continues to expand the resource base within the licence area.
Eurasia is fully financed throughout the coming year and beyond into 2013 for project work as well as the continuing assessment of a number of quality, near production projects in Russia and the FSU.
Assessment of gold opportunities in Eastern Russia has advanced to the stage of commencing negotiations for participation in three licences for exploration and production.
Also as an early outcome of our expanded search for near to production mining projects in the former Soviet Republics; in 2011 the Company announced it had executed a legally binding Memorandum of Understanding (“MOU”) to acquire an interest in the Kamushanovsky Uranium Project in Kyrgyzstan.