‘Unfortunately, Eureka Mining is not the most transparent company in the world; this is why it is rather difficult to get any information on its finances. It certainly is involved in a lot of projects all over the world, yet developing Mikheevskoye deposit will require at least $300m,’ the expert of FINAM Investment Company Alesya Breenkova said to UrBC representative.

‘Given the money the company has already invested in the project, it might be actually short of money, which is why Eureka Mining is likely to cooperate with a large Russian mining and metallurgical enterprise. Besides, Eureka could sell a share holding in order to obtain resources,’ Ms Breenkova said.