25th Feb 2015 08:32
LONDON (Alliance News) - Eurasia Mining PLC on Wednesday said it is moving closer to securing approval for its mining licence application for the West Kytlim project in the Urals in Russia.
Eurasia said representatives of the Russian state authorities have given verbal confirmation that the Department of Defence and Federal Security Service have approved the application.
The approvals are key steps in the company securing the licence, Eurasia said, but there remains no certainty at present that the licence will be granted, it added.
"We are delighted to report further progress in our application to secure a mining licence for the company's West Kytlim project," said Eurasia Chief Executive Officer Christian Schaffalitzky.
Shares in Eurasia were up 6% in early trade to 0.53 pence, one of the best performers in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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