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.
“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.