Nickel-copper explorer Amur Minerals (LON:AMC) reckons it's is one of the "better funded" international juniors after its equity swap agreement with Lanstead Capital has come to an end.
Amur entered into the combined placing and equity swap deal with Lanstead in July, 2013.
All 24 settlements of the equity swap agreement have now been completed and Amur has received a £8.3 million in total from the placing and agreement.
Robin Young, Amur chief executive, said: "Lanstead has been an important supporter and partner for Amur.
"The agreement with Lanstead provided the company with the necessary finance to continue its exploration and development of Kun-Manie, through to the awarding of the production licence in June 2015. Further to this, Amur is now in a position to launch its Detailed Study Phase of project development.
"At completion of the financial agreement, the board strongly believes that Amur is one of the better funded international junior exploration companies. It is currently in the process of setting out its intermediate and longer term objectives in development of what it considers to be a world class nickel sulphide project."
Amur shares closed yesterday at 13p each.