EUA - Eurasia Mining

[hxbro]

EUA - Eurasia Mining - http://www.eurasiamining.co.uk/

Just added this to my portfolio (decided to not be all in on RRL), briefly researched but looks good for multi-bag from current SP.

Main SP riser in the short term - They are waiting on a production licence for west kytlim, due to start production this summer.

Recently tipped in mining haven as a top pick for 2011

8. Eurasia Mining (LON: EUA) 1.1 – 622m shares
Somewhat hiding its light under a bushel, we come to Eurasia Mining, looking for Platinum, Palladium and Gold deposits in Russia. Well we say looking, but in actual fact, judging by their historical news they have actually found quite a lot. The company has two key licence areas. At West Kytlim, the company owns a 37.5% stake in the licence (recently extended to December 2012), alongside partner Anglo Platinum.
The exploration work thus far has been largely funded by Anglo Platinum and the company is currently awaiting confirmation of a production licence application which, assuming successful, will allow production to commence in the short term. And by short term, due to the
alluvial nature of this project, that could mean within just one year. We expect the licence award to be a huge value creation point for the company, particularly now at a time of high platinum prices, enabling them to rapidly move to producer status.

In the Kola Peninsula, Eurasia holds 60% of the project where the Monchetundra license was recently extended and is exploring for Platinum and Palladium deposits. Recent drill results from Monchetundra demonstrated high grade and these results have materially upgraded the potential resources from this area. There is also the recently announced Memorandum of Understanding over the Kamushanovsky Uranium project in Kyrgyzstan. Of course Uranium investing has been something of a sticky area recently, but as previously mentioned, we view times like these as opportunities on the basis that Uranium and Nuclear power are not going to simply disappear.
Moreover, within Russia there appears to be a bit of a sea change going on; with the State showing increasing levels of support to mining and exploration companies (especially foreign companies) and a growing awareness of the importance of effective Corporate Governance. It may well be early days but as its markets mature, there is no doubt that Russia will need to attract increasing levels of foreign capital investment if it is to maximise the potential of its vast mineral wealth. Eurasia’s licences are prospective and substantial and the potential very significant. The option for investors is to buy now at the low “pre West Kytlim production” share price, or wait a while for more certainty albeit at a higher price.

http://www.miningmaven.com/rokdownlo...May%202011.pdf

As always DYOR, but they have found deposits, just need the licences (bogged down in Russian bureaucracy), so in my opinion fairly safe and should return at some point (when is another matter!), although nothing is certain.

[hxbro]

Nothing much happening in the world of EUA, still waiting for license on west kytlim.

I've emailed the company a few questions about the license and update on the reserves (they are still surveying and carrying out samples on the area), didn't get a response from the last time I did it.

Recent article giving a round up:

http://www.miningmaven.com/k2/compan...set-to-thrill/

Upside could still be great and some easy gains might be possible from the current SP (0.95-1.05), little downside in my opinion apart from it might be a long wait.

DYOR