logo-loader
viewAmur Minerals Corporation

Amur to review resources and economic setup in feasibility study

The TEO is a Russian feasibility study that paves the way for the determination of reserves in accordance with Russian requirements

Amur Minerals Corporation - Amur to review resources and economic setup in feasibility study
Amur focuses on developments in the far east of Russia

Amur Minerals Corporation PLC (LON:AMC) said it is focusing on the feasibility study to determine total resources in its Russian developments.

The company, focused on exploring nickel-copper sulphide in the far east of Russia, will update its current resource estimate of 155.1mln ore tonnes with the discoveries announced in 2018.

READ: Amur Minerals offers two potential development scenarios for the Kun-Manie nickel sulphide deposit

The TEO - a Russian feasibility study that paves the way for the determination of reserves in accordance with Russian requirements – is due in December 2020 and will also identify whether a separate copper-only concentrate can be achieved, which will boost profitability for both the copper and nickel streams.

Other key objectives are to optimise mine scheduling to increase the open pit potential, as well as incorporating the new additions in the economic model.

Cash reserves at the end of the first six months of 2019 were US$687,000 (H1 2018: US$1.2mln). The company continues to evaluate funding options and partnerships to achieve its current objectives.

Shares were down 5.24% to 1.90p at noon.

Quick facts: Amur Minerals Corporation

Price: 2.3 GBX

LSE:AMC
Market: LSE
Market Cap: £19.23 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 Corporation named herein, including the promotion by the Company of Amur Minerals Corporation in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Amur Minerals pre-feasibility study outlines potential for US$3bn in cash...

Amur Minerals Corporation (LON:AMC) has revealed details of a pre-feasibility study for its Kun-Manie nickel project in Russia’s Far East. The study outlines two production scenarios capable of processing six million tonnes of ore per annum. Amur CEO Robin Young tells Proactive London what...

on 02/26/2019

2 min read