Eurasia Mining PLC on Tuesday said it has made further progress on the Semenovsky gold tailings project in Russia.
The pre-feasibility study equivalent for the project, a TEO of Conditions in Russia, has now been approved for the project and metallurgical testing is now underway, Eurasia said.
Samples have been shipped to Ekaterinburg to be prepared for further analysis, the company said.
“Approval of the TEO of Conditions is a major step forward for the STP and allows us to continue at pace with our other due diligence work and to lay the foundations for the commencement of processing plant construction later in the year,” said Eurasia Managing Director Christian Schaffalitzky.
Eurasia shares were up 5.0% to 0.735 pence.