Proactiveinvestors United Kingdom Amur Minerals

News - Amur Minerals reveals ‘significant step forward’ for Kun Manie nickel project

Thu, 10 May 2012 08:40:00 +0100

Amur Minerals (LON:AMC) says it has taken a significant step forward in the evaluation of the Kun Manie project in far east Russia.

The AIM quoted mine developer today said that new metallurgical test work has shown better nickel and copper recoveries compared to the Kun Manie pre-feasibility study, which was completed in 2007.

Projected nickel recoveries increased to 77.8 per cent compared with 75.9 per cent as estimated in the PFS, while copper recovery increases significantly to 90.4 per cent compared with 72.9 per cent. Also cobalt recovery increase to 68.6 per cent from 57 per cent.

Additionally Amur said there’s potential for a reduction in the amount of magnesium oxide in the metal concentrate, which could potentially reduce any penalties at the smelter.

Amur emphasised that increased metal recoveries and reduced penalties would ultimately reduce the cost per pound for the product produced at the Kun Manie mine.

"The SGS results are a significant step forward in the evaluation of Kun-Manie,” said chief executive Robin Young.

“The results indicate that there is substantial potential to increase metal recovery into concentrate, possibly improve the concentrate grades and ultimately improve the 2007 SRK pre-feasibility cash flow model results.

“An across the board technical improvement appears likely and provides us with a series of options to optimise the project."

Amur said that further work is required to finalise the metallurgical design. And this is being scheduled to take place after this year’s drill programme – which will provide fresh core for testing.

Kun Manie, located in Amur Oblast, in Russia's Far East, was projected by the PFS to be an open-pit mine, producing 16,000 tonnes of nickel concentrate a year.

RNS press release - SGS Mineral Services Metallurgical Test Results

Thu, 10 May 2012 07:08:00 +0100

RNS press release - Price Monitoring Extension

Tue, 17 Apr 2012 16:36:00 +0100

RNS press release - Price Monitoring Extension

Fri, 30 Mar 2012 16:35:00 +0100

RNS press release - Second Price Monitoring Extn

Mon, 26 Mar 2012 16:40:00 +0100

RNS press release - Price Monitoring Extension

Mon, 26 Mar 2012 16:35:00 +0100

News - Amur Minerals exploration at Chorney Ispelene area of Kun-Manie shows high nickel and copper grades

Wed, 14 Mar 2012 09:52:00 +0000

Russia-focused Amur Minerals (LON:AMC) is planning more exploration work this year on the Chorney Ispelene area of its Kun-Manie project, after rock chip samples taken in 2011 showed high grades of nickel and copper.

The results are the first in a set of announcements following the company’s 2011 exploration programme.

The Chorney Ispelene area is located at the western end of the Krumkon trend to the north and west of the Maly Krumkon deposit.

Mineralised samples collected from the structure have shown contents of up to 0.9 per cent nickel and 0.4 per cent copper.

Geological mapping, sampling, as well as geophysical work has identified that the structure is approximately six kilometres long, making it the longest continuous potential nickel and copper host structure defined by the company to date. The structure hosts nickel and copper mineralisation.

Amur will conduct additional exploration of Chorney Ispelene during the upcoming 2012 field season.

It will also undertake limited trenching and geological / structural drilling to develop a better understanding of the stratigraphy and orientation of the target.

Chief executive Robin Young said: "We are now able to begin the release of our final verified exploration results from the 2011 field season.

Chorney Ispelene (Black Giant) lives up to its name. The sampling results are among the best we have obtained during the years of work on the exploration licence. As a result, the Company will undertake limited trenching and wild cat drilling in the area in order to develop a better understanding of the target and its potential."

RNS press release - Chorney Ispelene Exploration Results

Wed, 14 Mar 2012 07:00:00 +0000

RNS press release - Price Monitoring Extension

Wed, 07 Mar 2012 16:35:00 +0000

News - Amur Minerals gets new drill rig for Kun-Manie; shares rise

Wed, 07 Mar 2012 09:52:00 +0000

Shares in Russia focused Amur Minerals (LON:AMC) surged upwards today as it revealed it now had a new diamond rig to drill its flagship Kun-Manie asset this season in a bid to increase resources and reserves.

The rig, which is also expected to reduce costs, is being transported from Khabarovsk to the base camp and from there to the site via a recently completed 320 km ice road, built each year.

Amur plans to drill 6,000 metres over this coming season and the new rig is expected to substantially reduce costs, the company said.

Historically, the firm's costs were around $290 per metre, excluding the additional cost of mobilisation and demurrage.

With the new rig, the costs per metre are expected to be around $165, resulting in a potential saving of $125 per metre, or a 40 per cent cost reduction.

The company expects to have fully recovered the purchase of the rig and its associated supplies and drill tools by drilling a total of around 7,500 metres.

Amur expects to use the rig for five to seven years and if the weather permits, it will drill additional meters this year.

Chief executive Robin Young said: "We will soon have identified the drilling targets for the year based on available results from 2011 which are currently fully in hand and are being reviewed in detail."

Last month, the company said it was raising around £5.48 million via a share subscription to accelerate development of the Kun-Manie nickel sulphide asset.

The cash will be used to fund bespoke metallurgical and engineering work to be carried out as drilling continues at the area, the company told investors.

As at 9.50am, share stood up 13.49 per cent, at 8.20 pence.

RNS press release - Newly Acquired Core Drill Rig for Kun-Manie

Wed, 07 Mar 2012 09:00:00 +0000

RNS press release - Holding(s) in Company

Mon, 20 Feb 2012 08:21:00 +0000

RNS press release - Price Monitoring Extension

Fri, 10 Feb 2012 16:35:00 +0000

News - Amur Minerals raising £5.48 mln via share subscription to accelerate Kun-Manie

Tue, 07 Feb 2012 08:04:00 +0000

Russia focused Amur Minerals (LON:AMC) is raising around £5.48 million via a share subscription to accelerate development of its flagship Kun-Manie nickel sulphide asset.

The cash will be used to fund bespoke metallurgical and engineering work to be carried out as drilling continues at the area, the company told investors.

The subscription is by existing shareholders and new investors for a total of 68.51 mln shares for 8 pence each, the firm said.

Of those, Lanstead Capital L.P, an institutional investor, has subscribed for 60.7 mln for a total consideration of £4,856,000.

Also, Amur said it had entered into an equity swap agreement with Lanstead which allows Amur Minerals to retain much of the economic interest in the Lanstead subscription shares.

In December last year, the company approved the 2012 exploration budget and programme, which includes up to 7,000 metres of diamond drilling within target areas identified as containing anomalous nickel and copper values adjacent to currently defined resources and reserves.

The work will also include drilling at newly defined areas where no work has as yet been carried out.

The field season will also include standard resource and reserve studies that will augment the JORC estimates presently being updated. All the information will be used for an updated pre-feasibility study.

Chief executive of the firm Robin Young said: "This offer of additional funding from long standing supportive and new shareholders will allow the company to accelerate the development of the project.

"Not only will we be able to bring forward important metallurgical study work but it will also allow us to investigate additional targets and anomalies identified during last year's field programme sooner than previously thought possible."

Last week, research house Edison published a note on the company, saying the firm may be looking at developing a "district scale" nickel project, rather than three deposits.

"Although Amur’s licence area is not known to contain massive nickel sulphide, the extent of pervasive lower grade nickel mineralisation at surface lends itself to numerous shallow open pits being mined and, in all likelihood, a call for a new and improved revised feasibility study being completed," analyst Charles Gibson had said.

In November, Amur reported results from the first phase of its 2011 exploration programme at Kun-Manie, saying there was "substantial" potential to expand resources.

RNS press release - Subscription and Update

Tue, 07 Feb 2012 07:00:00 +0000

News - Amur Minerals may be developing rare district scale nickel project, says Edison

Fri, 03 Feb 2012 14:25:00 +0000

Russia focused Amur Minerals (LON:AMC) may be looking at developing a "district scale" nickel project, rather than three deposits, says research house Edison.

Recent exploration results from the Kun-Manie nickel sulphide project, the firm's main asset, point to this, said analyst Charles Gibson, who added that such a district was "incredibly rare".

"Although Amur’s licence area is not known to contain massive nickel sulphide, the extent of pervasive lower grade nickel mineralisation at surface lends itself to numerous shallow open pits being mined and, in all likelihood, a call for a new and improved revised feasibility study being completed," he said.

In November, Amur reported results from the first phase of its 2011 exploration programme at Kun-Manie, saying there was "substantial" potential to expand resources.

Extensive soil sampling programme had expanded the known drill targets and defined many others, the company had told investors.

Gibson pointed out that only one final state approval for a mining licence for the project was required and it had enough cash for 2012 drilling.

Its equity swap agreement with Lanstead, for which it closed early settlement last May, continues to pay Amur around £102,000 per month (pegged to Amur’s share price movements), and with cash at hand of around US$4.2mln as of this month, Amur is funded through its 2012 field season, said the analyst.

Gibson said updating Edison's model using a nickel price of US$20,000 per tonne adjusted its estimate of the value of the project to US$394 million or £0.88 per share before dilution.

"Amur’s share price is therefore at a 90 per cent discount to the potential value of the project," said Gibson.

He added that while there was a risk the mining licence was not granted, if the deposit were ever to be exploited by a third party, the company has the right to compensation equal to 140 per cent of its exploration expenditure.

RNS press release - Broker Appointment

Mon, 23 Jan 2012 07:02:00 +0000

RNS press release - Price Monitoring Extension

Wed, 11 Jan 2012 16:35:00 +0000

RNS press release - Non-Executive Directors Dealings

Fri, 16 Dec 2011 10:30:00 +0000

Media files - Robin Young, CEO of Amur Minerals, talks about a mineable JORC compliant nickel sulphide reserve

Thu, 15 Dec 2011 15:25:00 +0000

Robin Young, CEO of Amur Minerals (LON:AMC), talks about a mineable JORC compliant nickel sulphide reserve, positive prefeasibility study, very low stripping ratio, nickel sulphide smelters in China beginning to run low on feed, potential to substantially increase resources & follow-on reserve estimates, & improving the economics of the project.