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Amur examines mine data ahead of next stage of study

“A considerable amount of information has now been received by the company of which we are busy reviewing”

Nickel -

Amur Minerals Corporation (LON:AMC) and its advisers are reviewing fresh studies on rock mechanics, reserves estimates and metallurgy ahead of the next stages of its pre-feasibility study for its Russian nickel copper sulphide project.

The various studies are part of the TEO, the mandatory Russian feasibility study, which for the Kun-Manie project is due in December 2020. 

READ: Amur Minerals completes hydrological assessment at Kun-Manie

Chief executive Robin Young said: “A considerable amount of information has now been received by the company of which we are busy reviewing. We will update the market as soon as the review on each study has been completed.”

He pointed out that during the review process “we exercise considerable diligence in reviewing these reports as they each represent the final studies on their respective areas”. 

The completion of these studies will provide inputs into the next stages of the TEO study areas that are scheduled to begin in the new year, namely identifying the preferred mine plan and production schedule for reporting of reserves, establishing a final metallurgical flowsheet for the processing plant and tailings storage facilities, and examining the potential for generating individual nickel and copper concentrates.

“The next stages of the TEO are scheduled to start in January and, when completed will provide the inputs for updating the economic assessment of Kun-Manie,” said Young.

“Further work, which is not part of the TEO, looking at trade-off between initial capital and operating costs will continue. This work covers purchase versus lease of mining fleet, transport fleet, and power generation."

Quick facts: Amur Minerals Corp.

Price: 1.2525 GBX

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