Amur Minerals Corporation (LON:AMC) ended the six months to June with US$11.5 mln, up from US$9.6 mln at the start of the year.
This followed two financings with investment company Crede conducted in March and June and which brought in £5 mln in new money in addition to £2.5 mln that was raised in December 2015.
Amur spent US$1.4 mln on capital equipment during the period and US$1.3 mln on exploration during the period, a considerable ramp up on spending conducted in the corresponding period a year earlier, now that the company’s flagship Kun-Manie nickel asset has all the permits it needs from the Russian government.
Administration expenses more than doubled to US$2.3 mln, but the company said that was mostly due to non-cash items.