FTSE 100 fagged out as US Food and Drug Administration targets nicotine levels in cigarettes
Despite the beating meted out to IMPs and BATs, the Footsie rallied in the last half hour to trim its heavy losses
Company
LON:AMC
Amur Minerals Corporation is a cash shell in accordance with Rule 15 of the AIM Rules as a result of the sale of its only asset, the Kun-Manie sulphide nickel, copper project. As a cash shell and to continue as a listed entity, Amur is now required to fully complete an acquisition which constitutes a reverse takeover (RTO) under AIM Rule 14. The company continues to review a number of reverse takeover opportunities in multiple countries and for multiple commodities. Two non-mineral resource companies have also approached the company from the AI/entertainment and financial services space. As of 30 June 2023, Amur had cash reserves of US$6.3 million, up from US$5.3 million at the end of 2022, and an additional US$1 million of restricted cash.
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Despite the beating meted out to IMPs and BATs, the Footsie rallied in the last half hour to trim its heavy losses
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Companies covered: Andalas Power, Kennedy Ventures, Mayan Energy, Image Scan, Grand Group Investment, KEFI Minerals, Gaming Realms, Proxama, Zinc Media
Independent cost estimates show that operating margins at Kun-Manie could be substantial
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The two targets being drilled currently are Kubuk and Ikenskoe/Sobolevsky
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Amur Minerals is completing an updated pre-feasibility study of Kun-Manie and is assessing its various financing options for the project
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Drilling at Ikenskoe/Sobolevsky (IKEN) since early May has extended the strike by 500 metres at an average of nearly 1.0% nickel and 0.3% copper.
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“Getting an early start, we are ahead of schedule and are now verifying our internally derived results to enable us to report mineralised grades and thicknesses," said Robin Young.