FTSE 100's advance driven by miners
Miners were doing much of the heavy listing in early trading
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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Miners were doing much of the heavy listing in early trading
Major share price risers and fallers in London at 4.00pm
Amur will talk to the agency, set up by President Vladimir Putin, about the possible federal funding for the mine, plant and smelter.
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The FTSE 100 Index was 56.86 points up at 5894 at lunchtime
Unlike most of its junior peers in the market, Amur has managed to generate real momentum in recent months.
Investments and investor services
The FTSE 100 Index gained 64.07 points to 5901 in early trading
“We fully intend to advance the Definitive Feasibility Study as rapidly as possible," said Robin Young, chief executive.
Alexander Nubia, Anglo Asian Mining and Keras also had news out this week
Amur Minerals had a stellar 2015 and now it's opened its 2016 account with solid news on assays and grades.
Amur Minerals has kicked off the process to update resources at Kun Manie in the Russian Far East..
“These available funds will be utilised to both complete necessary work for inclusion in and completion of the DFS."
New shares could be sold, at prevailing prices, in blocks of £2.5mln at 90 day intervals.
Below are the main news-driven share price movements at 4pm
Investments and investor services
ITM Power, 88 Energy and Rightster Group also had news out on Friday