Monchetundra is a fully permitted palladium driven complex of open pit deposits being developed towards production adjacent to the mining town of Monchegorsk. An EPC contract and finance package is in place with Chinese Group Sinosteel.

The Monchetundra Flanks license contains extensions to the ore bodies identified within the Monchetundra license. Principal targets are in the NKT Massif, and the extensions to the Loipishnune ore bodies.

JV with Russian state Company Rosgeo includes a further 9 projects (total of 104.6M oz Pt eq) in the immediate vicinity of Monchegorsk. The first of these is Nyud.

Having worked in Russia and Kola for more than two decades, and through a 15-year JV with Anglo American Platinum, and holding the only currently approved PGM mining permit in the region, Eurasia has a clear first mover advantage. The Directors believe the Rosgeo JV has the potential to be transformational for the Company as we develop a new global centre for PGM and battery metals production.

Eurasia is working with partner Rosgeo, a 100% Russian state-owned company, to gain a 75% equity stake in nine PGM and battery metals assets with a total of 104.6Moz of Platinum equivalent Russian Code reserves and resources in the immediate vicinity of the Company’s Monchetundra Project. The projects are comprised of;

• Four palladium, platinum, copper, nickel and cobalt open pit deposits, with feasibility studies and reserves approved by the Russian State Committee of Reserves (GKZ). These initial 4 projects are targeted as open pittable with toll treatment at the process plant at Monchetundra.
• A further five predominantly open pit palladium, platinum, copper, nickel and cobalt assets having passed preliminary Eurasia due diligence can be developed within the JV structure, at Eurasia’s option.