Eurasia Mining

I haven't seen this much discussion on the board for ages. There's nothing like a bit of news to raise the level of excitement.

There is nothing worse than expectation.

The South African disposal was excellent news - we now have some cash (probably enough to last for six months), and we will no longer have to wait for ever for any anticipated news from South Africa. This is one source of uncertainty out of the way. The fact that we never made any money on this deal should trouble nobody.

All now depends on Russia. The future is bright. The fact that it seems to have taken more than 12 months to tie up the licences (still not done) should trouble nobody. It will happen. If you are in any doubt read the thread header and review progress since. Ask yourselves the question "when have Eurasia ever failed to deliver on a promise".

A few months ago a Phil Edmonds company came to the market with £1 million cash and no other assets and was soon bid up to a market cap of £15 million (I believe within a week of launch - it did however fall from this figure sometime later). On this basis anything could happen to Eurasia which is only valued at £3 million but now has some cash and some assets in the Kola peninsula. Are we able to mine these assets yet? This should trouble nobody. Exploration can still generate worthwhile newsflow.

In terms of its ability to disappoint Eurasia has for some years been fighting for top spot with Cambridge Minerals.

The good news - I believe both shares will lose their title in 2005.

Good luck to all holders.

Happy New Year,
M