Artem Chaika became a strategic investor in geological exploration of the Magadan region in 2021. His companies were provided with 16 license areas practically free of charge to conduct geological exploration for copper. Governor Nosov cheerfully reported to President Putin about the identification of strategic copper reserves and plans for the construction of a mining and processing plant.
But over the past three years, work has begun only on 4 sections out of 16 and with a huge lag behind schedule. The Chaika company does not comply with the terms of the investment agreement with the Magadan region, and its financing obligations are not fulfilled.
The debt of Chaika companies to contractors exceeds 380 million rubles. Chaika’s company does not have any business plan or financial model for financing geological exploration.
Despite all the obvious facts indicating the complete inability of Chaika companies to fulfill the terms of the existing license agreements, the authorities of the Magadan region on January 25, 2024 provided the Nedra M company with a new subsoil plot – Buochakh-2 (license MAG021239TP dated January 25, 2024). Buochakh-2 is adjacent to the Laura license area, transferred to the Nedra M company in July 2021, as well as to the Buochakh-1 site, transferred to the Palladium company owned by Artem Chaika.
The new site was provided despite the fact that Nedra M LLC systematically does not pay even for the rent of the allocated land plots; the environmental prosecutor’s office of the Magadan region is involved in debt collection. The debt of the Nedra M company to contractors for geological exploration work at the Laura site amounts to more than 245 million rubles.
It is interesting that the provision of the Buochakh-2 subsoil plot coincided with the emergence of a new partner in the Magadan assets of Artem Chaika.
On December 26, 2023, the investment company Leto Finance LLC acquired a 50% stake in the companies Nedra M LLC, Palladium LLC and Medny Belt LLC.
The share was transferred to Leto Finance in exchange for an obligation to finance all work on four adjacent subsoil areas – Lora, Buochach-1, Buochach-2 and Levo-Ustinsky.
This is Chaika’s business. Without investing a penny of your own funds, get a 50% share in a mining company.
“ВЧК ОГПУ”