trending Market Intelligence /marketintelligence/en/news-insights/trending/40ykwhqp1j2bxrto-fc0ag2 content esgSubNav
In This List

Eurasia Mining shares surge 30% on draft permit approval for Monchetundra

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Eurasia Mining shares surge 30% on draft permit approval for Monchetundra

Eurasia Mining Plc's shares shot up by over 30% to 0.38 pence in early Feb. 2 trade on the London Stock Exchange following the announcement that the company got approval for a draft permit for the Monchetundra project in the Russian Arctic.

In the statement, Eurasia Mining said the permitting process for the project was progressing faster than expected. Russian mining authority Rosnedra completed its assessment of the permit and has forwarded it to the Ministry of Defense and the Federal Security Service.

Executive Chairman Christian Schaffalitzky said the company was satisfied with the efficiency of the Russian authorities during the application, adding that the experience gained from the West Kytlim permitting process had proven invaluable.

Eurasia Mining lodged a permit for the Monchetundra platinum-palladium project in the fourth quarter of 2017. The site has state-approved reserves and resources of 55.9 tonnes, or 2 million ounces, of palladium equivalent with major additional gold and base metal credits.