Amur Minerals
Amur Minerals Corporation is a mineral resource company developing metals deposits in Russia. The company's flagship asset is the Kun-Manie Nickel sulphide project in the far east of Russia. The Amur Province in Russia's Far East is rich in lightly explored mineral deposits, including both precious metals and base metals.
Amur Minerals to de-list from AIM
Amur Minerals, the junior exploration company with mineral interests in Eastern Russia, announced today that it would seek approval from shareholders on 22 December 2008 to de-list the company from AIM.
Amur Minerals has struggled to raise sufficient funds for its ongoing exploration of the Kun-Manie Nickel-Copper Project due to the ongoing credit crisis and severely weakened outlook for base metals, combined with investor caution towards companies with assets in Russia.
Amur Minerals listed on AIM on 15 March 2006 at 33 pence per share giving the company a market capitalisation of £28 million.
The Company said it was delisting to cut costs and regulatory burdens, and added that it continued to suffer from low liquidity levels, negative market sentiment towards emerging markets like Russia, and limited appreciation for the company's projects.
Amur further warned that it would require additional funding before the end of the year, or the company "will be obliged to consider whether the Company is in a position to continue trading".
"The Company will endeavour to continue to provide a number of the same facilities and services to shareholders which are currently enjoyed as shareholders of an AIM company, including maintenance of a current website along the lines required by AIM rule 26, keeping shareholders as fully informed as possible," the company said.
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Other Amur Minerals articles
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09/09/09 Amur Minerals set their sights firmly on nickel production at Kun-Manie
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05/03/08 Amur's Kun Manie project gets the green light
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01/11/07 Amur Minerals: Sleeping tiger?
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20/04/07 Amur Minerals: A tiger by the tail.
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01/06/06 Amur Mineral Corporation : three strong metals
Other Amur Minerals news
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05/03/10 Amur Minerals completes ice road to supply Kun-Manie copper-nickel project in Russia
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01/02/10 Amur Minerals seeks new share allotment approval, in active financing talks
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22/01/10 Amur Minerals reportedly files mining license application for Kun-Manie copper-nickel project
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19/10/09 Russian govt approves Maly Krumkon reserves for Kun-Manie nickel-copper project
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16/09/09 Amur Minerals names William McLucas and Eric McAuslan non-exec directors
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21/08/09 Amur Minerals raises £0.5 million through placement for Kun-Manie Nickel Project
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20/08/09 Amur Minerals submits Maly Krumkon estimates, puts Kun-Manie Nickel-Copper total value at $6.9 billion
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02/06/09 Amur Minerals lifted by successful fundraising
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24/04/09 Amur Minerals receive Kun Manie’s Certificate of Discovery
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18/12/08 Amur Minerals pave the way to a mining licence