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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Robin Young, CEO of Amur Minerals, commented: "With our drill programme being over 80% complete and having experienced no down time at the rigs, work is swiftly advancing toward completion of our three key objectives in this year's drill ef
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The UK blue-chip benchmark closed up over 58 points at 7,556, while its mid-cap cousin FTSE 250 added almost 142 points
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Logistics will be key to the economic viability of Kun-Manie
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In London, FTSE 100 shed 23 points to 7,655, while FTSE 250 shed over 155 points at 20,770
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The AIM-listed miner said this year's field programme is focused on the completion of specific tasks related to advancing the development of the project into one of the world's largest nickel producers
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FTES 100 was up 38 points to 7,611 in early afternoon trading
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The AIM-listed miner said these results serve to provide the global Kun-Manie base line mining tonnages including all drilling results and all current Mineral Resource Estimates
FTSE 250 closed also lower - just shy of 160 points lower at 20,684, while FTSE small cap market shed around 25 points
The AIM-listed miner said 2017 field season proved to be “our best ever resulting in a 50% increase in minable resources - 101 million tonnes to 155 million tonnes”
