Stocktube video
29/09/2011

Amur Minerals CEO says the company is “cashed up to move the project forward”

View full size
Additional Information
Market: AIM
Sector: General Mining - Nickel and Cobalt
EPIC: AMC
Latest Price: 5.00p  (-5.30% Descending)
52-week High: 16.88p
52-week Low: 4.25p
Market Cap: 17.66M
1 year chart
1 day chart
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Amur Minerals
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.

Pdf

Amur Minerals steps up progress in Far East Russia

28th Sep 2011, 3:27 pm by Jon Mainwaring Amur Minerals is focused on the Kun-Manie nickel-copper-sulphide project in the Russia’s Far East

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.


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.