Eurasia Mining on track in 2018 as it advances West Kytlim and Monchetundra projects
Eurasia Mining plc (LON:EUA) has had a positive year so far with production at the West Kytlim platinum and gold mine on target and the Monchetundra project close to becoming fully permitted.
At the Russian-focused miner's annual general meeting in July, chairman Christian Schaffalitzky said the appointment of Techstroy as the contractor for West Kytlim has proven to be a catalyst that has driven the project into a very successful mining season.
Total production at the mine so far this year has been on track and grades have been much higher than anticipated at West Kytlim, located on Ural Mountains.
"We estimate we are running up to a maximum of 7kg of raw platinum mine product in one-day throughput," Schaffalitzky said in the AGM statement.
"Our collaboration with Techstroy has been positive, in that both parties are comfortable with their respective roles and responsibilities, with mine progress generally, and with earnings above initial Q1 and Q2 estimates."
In its full-year results statement in June, the company said total raw platinum produced from initial start-up on 3 May to 22 June 2018 stood at 2,235 ounces and the run-rate is scaling up with the current record single-day production standing at 221 ounces.
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