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Epic & Msn data
Epic AMC
Time: 16:20:40
Mid Price: 5.00
Change Today: 0.13 Ascending
Change % Today: 2.56 Ascending
Fifty Two Week High: 13.25
Fifty Two Week Low: 0.58
Market Capital: 8.55
Period & price data
Period Price
Now: 5.00
3 Months ago:
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: AIM
Sector: General Mining - Nickel
Epic: AMC
News: Latest news
Web Site: Amur Minerals
Other Articles: 01-02-201022-01-201019-10-2009

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.

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Tuesday, June 02, 2009

Amur Minerals lifted by successful fundraising

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Hard on the heels of their recent £180,000 placing with Wills & Co, Amur Minerals (AIM:AMC) announced yesterday that it had succeeded in raising a further £710,000 by way of a share swap with Grafton Resources Investments Ltd worth £589,000 and a simultaneous placing with Black River, an existing shareholder, to raise £120,900 in cash. Both deals were achieved at 3.9p per Amur share, a 44% premium to the current share price.

Grafton has a current NAV per share of $38.42 and is currently planning a listing in Dublin, which will enable Amur's investment in the trust's shares to be sold to realise cash as and when required. Grafton and the Black River Funds will each hold 9.9% of Amur's enlarged share capital, and presently plan to hold their positions long term.


CEO Robin Young explained: "This combination of cash and shares from two long term investors underpins the financial viability of the company into the foreseeable future. The commitments from the new investor as well as a previous shareholder is reassuring and proves diligent and persistent efforts to raise funds in a challenging market can be rewarded, especially when one has an asset of quality such as Kun-Manie. 


"With this newly funded position, we will continue to actively pursue the mining licence at Kun-Manie while simultaneously adding value to the project via the compilation of detailed engineering plans related to future production."

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