Platinum was first discovered in placer deposits in 1823 in the Urals and was the richest source of the metal until the South African mines opened. Over 500 tonnes (16 million ounces) has been produced to date. Eurasia, in partnership with Anglo Platinum, explored and developed a number of new discoveries from 2001 to 2014 in the West Kytlim district using a combination of Russian and western expertise. The sampling methodology is reviewed together with the resource and reserve classification system and the subsequent economic modeling. Due to constraints on equity finance in the junior mining sector a novel financing structure was developed and is now being proved.
Christian Schaffalitzky and Keith Byrne, Eurasia Mining plc
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