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Amur Minerals shares soar as it mulls new investment opportunity

Amur shares soared more than 20% higher in Tuesday's deal.

Amur Minerals Corp. - Amur Minerals shares soar as it mulls new investment opportunity

Amur Minerals Corporation (LON:AMC) has confirmed it could make a new investment in a mining project as its shares soared higher.

In a stock market statement made in response to its rising share price, Amur said it is considering an investment in the mining sector and that this investment is subject to completion of due diligence and funding.

READ: Amur Minerals details ‘high value outputs’ for 2020

“The investment is in accordance with the company's stated intention of acquiring interests in financial instruments within the mining sector to provide the company with a reliable source of income going forward, or where the company will be able to add short to medium-term value and does not constitute a reverse takeover,” Amur said.

In London, Amur shares rose by 0.59p or 26.46% in Tuesday to change hands at 3.16p.

Amur last month, in its financial results, told investors that it is “fully focused” on the completion of the Russian TEO reserves estimation programme and bankable feasibility study (BFS), adding that incorporating results from its “highly successful” field season in 2018 was expected to “substantially increase” the current JORC mineral resource estimate of 155.1mln ore tonnes at its Kun-Manie project in Russia.

Quick facts: Amur Minerals Corp.

Price: 2.535 GBX

LSE:AMC
Market: LSE
Market Cap: £25.21 m
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Amur Minerals' Adam Habib outlines progress towards TEO completion and...

Amur Minerals Corporation PLC's (LON:AMC) board advisor Adam Habib tells Proactive London's Andrew Scott they're on track to complete its Russian TEO feasibility study for the Kun-Manie project by the end of the year. He adds that the strategy is to finalise the detailed plan, costing and...

on 25/6/20

2 min read