Eurasia Mining PLC on Monday noted online discussions regarding the definitive feasibility study for the Monchetundra project in the Kola peninsula in north-west Russia.
The stock fell 47% to 2.00 pence each on Monday morning in London. Shares have, however, risen 40% over the last five days.
The London-headquartered, mining and mineral exploration company, formerly focused on Russia said while work has continued at site, there have been no material developments regarding the definitive feasibility study since its announcement in July last year.
It added: ‘The primary focus of the company remains the possible sale of its Russian assets although, as ever, there can be no guarantee that Eurasia will enter into binding agreements regarding the sale.
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