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Amur Minerals Corporation says delayed study will "meet the expectations of as wide an audience as possible"

It explained it wanted to take additional time address areas highlighted by potential strategic partners mulling whether to participate in the development of the deposit in eastern Russia

nickel symbol on the period table
The company is developing a nickel project of international scale

Amur Minerals Corporation PLC (LON:AMC) said its pre-feasibility study (PFS) will be released in the first quarter of next year as it confirmed there had been interest in the Kun-Manie nickel project.

It explained it wanted to take additional time address areas highlighted by potential strategic partners mulling whether to participate in the development of the deposit in eastern Russia.

READ: Amur could mine from one much larger pit at Kun-Manie rather than the three previously envisaged

The company believes any amendments will enhance the quality of the study and would allow for a “document that more readily meets the expectations of as wide an audience as possible”.

"The completion of the PFS has taken longer than initially expected and it is understandable that this delay has caused concern,” said chief executive Robin Young.

“We want to ensure that the standard of the PFS meets with the expectations of the multiple intended audiences and therefore provides a more encompassing strategic long-term plan.

“It is envisaged that the additional time spent on the PFS, in association with the strategic plan, will establish a valuable and more fully encompassing assessment of Kun-Manie in line with our corporate development plan and potential.”

As well as working on the study, the Amur team has also been putting together the 2019/20 strategic plan.

Quick facts: Amur Minerals Corp.

Price: 1.15 GBX

LSE:AMC
Market: LSE
Market Cap: £10.59 m
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