JOHANNESBURG (miningweekly.com) – Russia-focused precious metals producer Eurasia has entered into a memorandum of understanding with Singapore-based GoldMint to collaborate on potential projects.
In terms of the agreement, announced on Friday, Eurasia has the option of collaborating with GoldMint on financing all or part of potential exploration and mining projects, and ultimately managing all or part of the mine output.
The agreement could also be applied to Eurasia’s current projects and interests, the precious metals miner said,
“GoldMint is developing a platform on which to establish a new means of managing physical gold assets, by applying blockchain technologies to make transactions backed by physical gold more fluid,” Aim-listed Eurasia explained.
The company noted, however, that neither party was obligated to progress on any venture.
Eurasia is advancing the Monchetundra palladium and platinum project, in the Kola peninsula, to production in 2020 and already produces gold and platinum from the West Kytlim mine, in the Ural mountains.
Shares in Eurasia advanced 10% on the news to 0.45p in London.