logo-loader
viewAmur Minerals Corp.

Amur Minerals says 2018 drill programme at its Kun-Manie nickel-copper sulphide project well advanced

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 effort”

Amur ice road
Young added: "We have already completed all infill drilling of limited areas in each of the four areas where we anticipate mining to occur

Amur Minerals Corporation (LON:AMC) said the 2018 drill programme at its wholly-owned Kun-Manie nickel-copper sulphide project in the Far East of Russia is well advanced.

Robin Young, CEO of Amur Minerals, commented: "With our drill programme being over 80% complete and having experienced no downtime at the rigs, work is swiftly advancing toward completion of our three key objectives in this year's drill effort.”

READ: Amur signs up Russian logistics and supply chain expert to help with development of Kun-Manie

Young added: "We have already completed all infill drilling of limited areas in each of the four areas where we anticipate mining to occur. This information represents the final milestone required for inclusion in our work to obtain final Russian reserves as in accordance with Russian Federation requirements to obtain the necessary approvals for mine plans, designs and schedules. 

The CEO continued: "Once all final analytical results are available, we can begin to compile the TEO, a Russian feasibility document. We are also nearing completion of conversion of a large high grade, higher net operating profit per tonne Inferred resource at Ikenskoe/Sobolevsky. 

“The upgrade to Indicated resource should enable us to enhance the production schedule and related PFS cash flow model. We anticipate further improvement of the projected NPV and IRR beyond that of our current positive results.” 

He concluded: “There is a second enhancement that could be derived with this conversion step being completed. That is by mining this during the first 10 years of production, there is added upside related to the reduced Net Profits and Metal Royalties structure for the Far East which will further benefit the project. 

“Metallurgical sample collection is also advancing and we anticipate successful completion of this year's drill objectives by mid-September."

Quick facts: Amur Minerals Corp.

Price: 1.9 GBX

LSE:AMC
Market: LSE
Market Cap: £16.06 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Amur Minerals Corp. named herein, including the promotion by the Company of Amur Minerals Corp. in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Amur Minerals raises £1.2mln and remains 'fully focused on...

Amur Minerals Corporation's (LON:AMC) Robin Young speaks to Proactive London's Andrew Scott soon after announcing they've raised £1.2mln before expenses. The subscription is by an asset manager specialising in natural resources. Meanwhile, Young says they remain fully focused on the...

on 8/11/19

RNS

Annual General Meeting Results

1 day, 14 hours ago

Issue of Equity

1 week, 6 days ago

Notice of Annual General Meeting

2 weeks, 6 days ago

Investor Event

3 weeks, 4 days ago

Repayment of Convertible Loan

3 weeks, 6 days ago

Issue of Equity

on 4/11/19

2 min read