25th May 2016 09:37
LONDON (Alliance News) - Russia-focused platinum and gold miner Eurasia Mining PLC on Wednesday said it has signed a deal with OOO SK Region-Story under which the latter will start contract mining at Eurasia's West Kytlim project in the Urals region.
Eurasia said it will get 30% of total sales achieved from production at the project.
"We are delighted to announce this transaction, which will enable Eurasia to benefit from the development of West Kytlim without having to fund the capital cost of project development from its own resources," said Eurasia Managing Director Christian Schaffalitzky.
Eurasia shares were up 7.3% to 0.62 pence Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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