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Eurasia in the red

By BFN News | 09:14 AM | Tuesday 26 September, 2017


Eurasia Mining posted a pre-tax loss of £1.1m for the six months to the end of June compared with a profit of £855,090 last time. Revenue of £26,525 compared with nil last time and £139,862 for the 12 months to the end of December. Executive chairman Christian Schaffalitzky said: 'Over the last few months there has been continued progress in the development of our projects which I have outlined in the operational update below. 'Our operating mine at West Kytlim complements our Monchetundra asset, which is nearing the end of feasibility, and these, together, create an integrated pipeline of PGM assets. 'Our people both in Russia and in London, continue to focus their attention on the Company's core strategy of developing these two key assets, while also pursuing potential openings at other projects throughout Russia, such as the Semenovsky tailings project where our exclusivity was extended recently. 'In addition, we greatly welcome the turnaround in the mining sector in the past twelve months, and the consequent upswing in commodity prices.' At 9:14am: (LON:EUA) Eurasia Mining PLC share price was 0p at 0.4p Story provided by StockMarketWire.com

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