www.amurminerals.com
Amur Minerals Corporation (AMC) is a rapidly-growing mineral resource exploration and development company focused on base metal projects located in the far east of Russia. The Company has three properties in the region with its principal asset being the Kun-Manie sulphide nickel, copper project located in Amur Oblast. With a JORC compliant resource of over a quarter of a million tons of contained nickel, Kun-Manie is one of the five largest new nickel sulphide discoveries since Voisey’s Bay.
Amur Minerals steps up progress in Far East Russia
Far East Russia-focused Amur Minerals (LON:AMC) said it has stepped up progress concerning its Kun-Manie nickel-copper-sulphide project as it announced interim results for 2011 this afternoon.
The firm is continuing to work with various Russian Federation officials and agencies to advance its application for the mining licence covering Kun-Manie. Executive staff from the firm have been working with the Amur Oblast authorities, as well as members of the Duma, in order to lobby Federal agencies to grant the mining licence.
Meanwhile, the Amur Minerals has received the first partial batch of analytical results from reconnaissance exploration work in the area and will make a further announcement when the results are verified. The primary objective of this work is to identify drill targets for next year.
A number of financings have resulted in the firm boosting its cash reserves from US$3.1 million to US$5.1 million during the first half of the year to the end of June, and Amur remains debt free.
“In the 6 month period we have significantly improved the financial position of the company and we are working with the Russian authorities to amend both the Mining Law and to advance the mining application,” said Robin Young, Amur’s chief executive officer. “At Kun-Manie we are confident that the resources within the licence area can be increased significantly and we have commenced engineering work as we look to production. The initial sample results from this season's work have been received and we will announce these shortly. We continue to advance what we believe to be a major nickel project.”
During the six months to June 30, Amur made a loss of £2 million (H1 2010: £1.4 million).
In mid-afternoon trading today, the firm’s shares were down a quarter of a penny at 9.65 pence each.



















