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Amur Minerals Corporation extends convertible loan facility

Some US$1.2mln has utilised already with a further US$500,000 now to be drawn down

Amur Minerals Corporation (LON:AMC) has extended the maturity date on its US$10mln convertible loan facility with Riverfort Global and YA II PN until March 2020.

Some US$1.2mln has utilised already with a further US$500,000 now to be drawn down.

As part of the loan extension the lenders will receive warrants exercisable at 3.76p.

Amur will use the money to upgrade the resource at Kun-Manie in Far East Russia and add new technical data, cost information and metallurgical test work to the pre-feasibility study.

Expansion of the resource and reserve will enhance the reported PFS results through an expansion of the mine life and optimisation of the production schedule, said Robin Young, Amur’s chief executive.

 

 

 

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