Has anyone heard anything about this firm regarding newsflow?

Eurasia doubles on US$176mln deal for Russian project
16:29 10 Oct 2016

Sinosteel is a major engineering outfit and one of the largest importers of iron ore into China.



Eurasia Mining plc (LON:EUA) shares doubled as the Russia-focused junior unveiled a massive deal with Chinese major Sinosteel to develop its Monchetundra platinum project on the Finnish border.

The contract is for the development of two platinum deposits and a 1.7mln tonnes per year beneficiation plant.

Sinosteel is a major engineering outfit and one of the largest importers of iron ore into China.

It will construct and commission the mine on a commercial arms-length basis, with the contract in total worth US$176mln.

Sinosteel will arrange US$150mln worth of finance for the development, with funding an integral part of the EPC turnkey contract said Eurasia.

Some USS$50mln of the contract will be assigned to Eurasia’s 80% subsidiary TGK for open pit preparatory work.

Sinosteel's contract is based on a two-year due diligence and evaluation of the Monchetundra project.

The plant contract is exclusive to Sinosteel for a period of ten years.

Christian Schaffalitzky, Eurasia’s managing director said: "We have always considered Monchetundra to be an attractive project and the recent expressions of interest, including the concept of an outright proposal to acquire the project, and the desire to secure an EPC contract in relation to Monchetundra, clearly demonstrates that our judgment was well founded.

“This contract with one of the world largest EPC contractors provides the framework for the construction of a processing plant designed to treat ore from two open pits in the Monchetundra licence area."

Shares jumped 100% to 1.05p.


Elsewhere, at West Kytlim, deliveries to the refinery are continuing and payment amounts for the first batch of concentrate have been agreed, while at the Semenovsky gold project, our metallurgical testing program is nearing completion, said Schaffalitzky.

Philip Whiterow

Bj
Yes looks like we have seen the back of the overhang.

looks abit better than VOG... fill ya friggin boots!

Just bought in to this stock today

Big deals suddenly flowing in junior mining

http://www.proactiveinvestors.co.uk/companies/news/167229/big-deals-suddenly-flowing-in-junior-mining-167229.html

Interview with EUA MD Schaffalitzky

Tue, 11 Oct 2016, 03:30pm BST

Christian Schaffalitzky, Managing Director of Eurasia Mining, discusses the Engineering Procurement, Construction and Commissioning turnkey contract which has been signed in relation to its Monchetundra project in the Kola peninsula in northwest Russia.


https://www.brrmedia.co.uk/broadcasts/57fce41e23b1a5e411ab8ea1/eurasia-mining-engineering-procurement-construction-and-commissioning-contract

Only just had chance to listen to above interview and all sounds good for short, medium and the long term investor, with the companies growth prospects clear to see.

Another video interview from yesterday:

China deal a 'one-step turnkey' contract to develop Russian mine, says Eurasia boss

Published on Oct 11, 2016
The Russia-focused junior miner's unveiled a massive deal with Chinese major Sinosteel to develop its Monchetundra platinum project. The contract is for the development of two platinum deposits and a beneficiation plant.

Managing director Christian Schaffalitzky tells Proactive: “Those people who follow the mining business will know we've been having a really rough time since the crash of metal prices in 2008. Normally we would do one of two things - we would raise funds to do our development work with equity capital, however the mining funds are no longer present or are much more diminished. The second way would be in joint venture with a major mining company but unfortunately they got too over-leveraged and so have been very inactive in the sector. So those of us who take risks to develop new deposits have been left on our own.”

“This new contract is basically a loan package and EPC contract, so a turnkey operation to develop the mine and plant to extract platinum group metals, precious metals and base metals from the deposits we've been exploring.

“It's basically a one-step turnkey contract with financing already conceptually in place for when we get the go-ahead from the Russian government to develop the mine,” Schaffalitzky added.

Sinosteel will construct and commission the mine with the contract in total worth US$176mln.

https://www.youtube.com/watch?v=CU6vG1qR_MM

Cheers bj the sp should settle down soon then start going back up once the traders have gone..

Charts & tweets:

Eurasia Mining – Update from start up operation at West Kytlim platinum and gold mine

Thu, 13 Oct 2016, 02:15pm BST

This footage, compiled in late September and early October summarises the start up operation at the West Kytlim platinum and gold mine.

https://www.brrmedia.co.uk/broadcasts-embed/57ff71b74ef34929294b9119/event/?livelink=true

26 Oct 2016
Video of the larger washplant operating at West Kytlim

MiningMaven Investor Evening with Kolar Gold (LON:KGLD), Ortac Resources (LON:OTC) and Eurasia Mining (LON:EUA),

Thursday, 3 November 2016 from 18:00 to 21:00 (GMT)
City of London, United Kingdom

https://www.eventbrite.co.uk/e/miningmaven-investor-evening-with-kolar-gold-lonkgld-ortac-resources-lonotc-and-eurasia-mining-tickets-28223342778

Topping up on the dip..

03 November 2016 
Eurasia Mining plc (AIM: EUA) 

Projects Update

The Company is pleased to update shareholders on progress on its three projects in Russia. Eurasia's West Kytlim platinum and gold project is now in production, first shipments of concentrate began in early September (see RNS dated 9 September 2016). The Monchetundra Project is in late stage development and has been bolstered by an Engineering, Procurement, Construction and Commissioning ("EPC") contract with Sinosteel Equipment and Engineering Co Ltd, while the Semenovsky Gold in Tailings Project remains under review as metallurgical test work for cyanide gold recovery nears completion.
 
 
Monchetundra, Kola Peninsula, NW Russia
 
As announced on Monday 10 October 2016, Eurasia has signed an EPC contract between Sinosteel (one of the largest Chinese stated-owned engineering groups), and Terskaya Gornaya Kompaniya ('TGK'), Eurasia's 80% subsidiary which holds the Monchetundra PGM licence near Monchegorsk, an industrialized area of the Kola Peninsula close to the border with Finland.
 
- Under the terms of the EPC contract, Sinosteel has undertaken to build a processing facility capable of treating 1.7 million tonnes per annum from two open pits within the Monchetundra licence and capable of extracting 130,000 oz of platinum equivalent per annum. The contract value totals US$176,000,000 with a US$50,000,000 subcontract assigned to TGK in respect of preparatory and pre-strip works.
 
- Sinosteel is to be responsible for debt finance covering 85% of the contract value with debt obligations assigned to TGK when the facility achieves production of 130,000 oz PGM equivalent per annum. The loan is assigned to TGK only on successful completion of the works such that Sinosteel are motivated to achieve design capacity on schedule. Interest is charged at a floating rate of 6 month LIBOR +3.5% per annum and the loan term set at 10 years with no penalty for early repayment.
 
- Following the success of the royalty-like structure signed and implemented on the West Kytlim project, Eurasia has entered into talks with an international engineering company to manage the mining operation at the Monchetundra project, and to work for the company as the owner's representative throughout the design and build phase of the Sinosteel EPC agreement and thereafter during the operation of the mine. It is envisaged that the structure used successfully at West Kytlim, where the mining operation is outsourced for a split on revenue, can be replicated at the Monchetundra project. Further updates will be made in due course.
 
West Kytlim, Urals
 
Mining and production of platinum continues at West Kytlim, with weather not stopping production and the forecast reasonable for the coming weeks. The Company will provide details of the final production figures and projected income on completion of the season's works. The trial mining operation has tested two washplants, one owned by Eurasia and refurbished on site, and another larger plant supplied by the contractor SK-Region Stroy. The information pertaining to the constitution and washability of gravels gained from these exercises will be instrumental in ensuring a smooth path to next season's production, as we approach the close of this year's mining season.
 
Semenovsky Tailings Project, Urals
 
Metallurgical testwork continues to investigate the details of the tailings composition, in view of the material being sourced historically from three mines with different mineralogy. This work will be completed shortly and then form the basis of an assessment by metallurgists for the optimal production route. Work is being carried out at SGS Chita and further announcements will be made in due course. 
 
MD Christian Schaffalitzky commented: 
 
"We have endeavored to replicate the structure, which has been proven to work at West Kytlim, at the Monchetundra Project with an additional contract to cover the considerable capital outlay. We believe this presents a route to project development which minimizes exposure for Eurasia, further shareholder dilution, and allows the project to be developed despite a continuing resource sector downturn.
 
We believe the transaction is very much on trend considering Sino-Russian relations over the past number of years. Chinese firms are increasingly active in the Russian market in rare earths, PGM, base metals and precious metals. It was our intention to capitalize on this evolving relationship and to offset some of the development risk to a suitably qualified and experienced engineering firm with considerable banking and political reach. Sinosteel is, under the terms of the contract, highly motivated to deliver the plant as stipulated in the contract, because they will be responsible for $150 million until they reach the production level of 130,000 oz of platinum equivalent per annum.
 
Further outsourcing the running of the mine to an international company with experience in operating mines is now a top priority for Eurasia. Engaging such a group to act as owner's representative during plant construction aims to ensure the plant is built in line with best international practice. We look forward to updating on developments in this regard in the near term."

http://www.moneyam.com/action/news/showArticle?id=5442835

Very good update IMO

Link to the presentation slides from the MiningMaven event last Thursday:

http://www.eurasiamining.co.uk/~/media/Files/E/Eurasia-Mining/reports-and-presentations/Copy%20of%20eua%20mining%20maven%20nov%2016.pdf

Eurasia Mining
@eurasiamining
59m
Video of $EUA MD Schaffalitzky presenting @theminingmaven event last week. goo.gl/ugvM3G pic.twitter.com/qilj51yLhf
View photo ·
https://www.brrmedia.co.uk/broadcasts/582209eb9d013e187447c7c6/eurasia-mining-platinum-pgms-and-gold-in-russia

Eurasia Mining
@eurasiamining
2h
$EUA comes up Trumps with a 33g Platinum nugget. Value ranges £570 to £690, or best for a collector? pic.twitter.com/z9Vqbmzjmb
View photo

  

Nice Nugget lets hope they find a lot more of them. I was at the presentation nice grub and plenty to drink. I'm fully loaded on EUA but still may be having a few more at this price.

18 November 2016
  
Issue of Equity
 
Further to the announcement of 1 August 2016, the Company confirms that it has drawn down a further £200,000 under its loan arrangement with Sanderson Capital Partners Limited ("Sanderson"), and accordingly has today issued 4,800,000 ordinary shares in the Company at a price of £0.00625 to Sanderson in satisfaction of the drawdown fee of £30,000 connected to the loan, described in that announcement. The total amount drawn down under this current loan arrangement with Sanderson is now £500,000.
 
Accordingly the Company has today issued a total of 4,800,000 Ordinary Shares (the "New Shares"). Application will be made for the New Shares to be admitted to trading on AIM and dealings in these shares are expected to commence on the 23 November 2016.
 
Following the issue of the new shares the total number of issued ordinary shares in the Company will then be 1,463,792,059 ordinary shares and consequently the total number of voting rights in the Company will be 1,463,792,059. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in the share capital of the Company under the Disclosure and Transparency Rules.

http://www.moneyam.com/action/news/showArticle?id=5451576