TIDMAMC
RNS Number : 6527C
Amur Minerals Corporation
19 April 2017
19 April 2017
AMUR MINERALS CORPORATION
(AIM: AMC)
Kun-Manie Access Road Update
Amur Minerals Corporation ("Amur" or the "Company"), a
nickel-copper sulphide mineral exploration and resource development
company focused on the far east of Russia, is pleased to announce
that it has received topographic and hydrological information on a
four kilometre wide, 320 kilometre long corridor, along its planned
access road route. This corridor is located within the area where
the Company plans to construct a Russian "Technical" Class road,
which will connect the Company's flagship Kun-Manie project to the
Baikal Amur ("BAM") rail line. The road will be used to transport
concentrate and supplies to and from the site over the course of
the planned operation.
Highlights:
-- A phased approach is being implemented to define the final
access road design and its total final cost of construction. Use of
this approach will allow for development of the most efficient
route design, establishment of necessary construction requirements
and the potential inclusion of road bed geotextile materials which
could reduce total capital and operating costs for the road.
-- Based on the Company's route, defined in 2016 by a qualified
Russian road engineer and newly generated topographic and
hydrological maps, Phase One is being initiated.
-- The Company has screened 12 Russian road design companies and
identified two companies that are fully qualified to complete the
engineering, design and construction of the access road. These
pre-qualified companies will be receiving a Request for Proposal to
provide a bid for the first phase of the engineering and design
work of the access road.
-- Deliverables for this first phase of work include the
selection of the route with major design considerations including
bridges and water crossings (diversions), road maintenance
requirements, road related infrastructure, administrative
considerations, preliminary environmental assessments and the Phase
One estimated construction and operating costs of the road.
-- In parallel with the work being implemented by the contractor
awarded the Phase One work, Mabey Bridges Holding ("Mabey") will be
providing additional information to assist with the design of the
access road. Mabey is a bridge construction specialist qualified in
the design and construction of bridges suitable for use in arctic
environments where temperatures of sub -40C are typical. Mabey is
UK domiciled and its products are certified for use in the Russian
Federation.
-- Should the UK derived capital cost components exceed 20% of
the total capital cost of the access road, the Company has the
potential to receive funding from the UK Export Finance and
Department of International Trade ("UKEF"). The Company is in
preliminary discussions with the UKEF.
-- Far East and Baikal Regional Development Fund also remains a
key potential funding source for the road and discussions are
ongoing.
Robin Young, CEO of Amur Minerals, commented:
"We are very pleased to have received the topological and
hydrological data for our planned access road corridor. This
enables us to take a major step forward in the evaluation of
Kun-Manie by defining project specific capital and operating costs
for the road. Having screened a group of Russian engineering,
design and road construction groups, the first of three phases of
road work can begin in earnest.
"This phase of work will also enable us to advance discussions
with the Far East and Baikal Area Development Fund with regards to
funding of the project, and should UK derived road and bridge
components of Mabey Bridges comprise 20% or more of the total road
construction cost, an additional viable source of low cost funding
could be available to Amur with the addition of the UK Export
Finance and Department of International Trade."
Access Road Summary
A key component to the successful implementation of the
Kun-Manie project is the construction of an estimated 320 kilometre
long road from the BAM rail line to the project site. It is over
this road that concentrate will be delivered from the mine to a
rail siding, allowing for shipment to a toll smelting company or to
the Company's owner operated furnace located at the BAM siding
where a low grade matte will be generated. Current evaluations
indicate total transported tonnage per year will range from 700,000
tonnes to 1,000,000 tonnes.
Preliminary Road Specifications
A Russian "Technical" class design (sand and crushed stone mix
surface) is planned and is to be designed for traffic speeds
averaging from 40 to 60 km/hour. The cross sectional dimensions of
the road is expected to range from 10 to 12 metres wide at the
base, with a running surface width from six metres to eight
metres.
Phased Road Design Programme
Three Phases are planned:
-- Phase One of the access road design consists of route
definition. Based on the newly received topographic and
hydrological maps, the route is to be compiled on a desk top basis.
Once the desk top route and preliminary design is completed, field
investigations of the selected route are to be undertaken. Any
necessary adjustments to the route and its design allowing for
geologic and hydrologic considerations will be incorporated into
the design. Preliminary capital and operating costs relating to the
road will be generated for inclusion in the ongoing economic
assessment of Kun-Manie.
-- Phase Two consists of detailed acquisition of engineering
information related to geomechanical and hydrological
considerations. Necessary drilling, trenching and excavation to
define the characteristics of the road bed, areas where bridge
abutments and culverts, are required will be undertaken.
Concurrently, fill and aggregate sources for the road will be
identified, if and where necessary. The information provides the
basis for detailed engineering of water crossings, bridges and the
stability of the road base. Detailed capital and operating costs
are updated.
-- Phase Three is to consist of construction of the access road.
As with all international operations, national governments
require various permissions and approvals, as does Russia. The
Company and its consultants involved with the road and all other
aspects of the Kun-Manie project will be proactively working with
the necessary Russian agencies to ensure rapid responses and
approvals allowing for the start-up of construction of the road as
swiftly as possible.
Application of New Technology
The Company is investigating the use of a geogrid product that
has been proven to reduce road construction costs by reducing the
amount of material required to construct a road, extend the life of
the road and reduce maintenance costs. Successful application of
this product could reduce the total capital cost of the road and
reduce the time required for its construction.
Mabey is a global leading provider of bridging and
non-mechanical construction equipment and services. Mabey has
proven the suitability of its product for use in permafrost
environments and obtained all necessary Russian approvals for use
and installation of their products. Its factory is located in
Lydney, Gloucestershire, UK. For more information, see the link
below:
www.mabey.com
Access Road Funding
The Company continues its ongoing discussions with the Far East
and Baikal Area Development Fund (FEDF) as the road access portion
of the project advances. The FEDF represents a potential source of
financing for infrastructure in the Far East whereby low interest
rate loans may be obtained.
Mabey has extensive experience working with the UKEF in support
of projects located throughout Latin America, Africa and Asia.
Should the Mabey product represent 20% of the cost of road
construction, additional funding from the UKEF is possible. Amur
would be eligible for low interest loans. This funding opportunity
will be further examined as the design of the road advances and
full assessment of the capital costs are established with time.
Company Nomad and Broker Public Relations
Amur Minerals S.P. Angel Corporate Yellow Jersey
Corp. Finance LLP
Robin Young Ewan Leggat Harriet Jackson
CEO Soltan Tagiev Charles Goodwin
+74212755615 +44(0)2034700470 +44(0)7544275882
For additional information, visit the Company's website,
www.amurminerals.com.
Notes to Editors
The information contained in this announcement has been reviewed
and approved by the CEO of Amur, Mr. Robin Young. Mr. Young is a
Geological Engineer (cum laude), a Professional Geologist licensed
by the Utah Division of Occupational and Professional Licensing,
and is a Qualified Professional Geologist, as defined by the
Toronto and Vancouver Stock Exchanges. An employee of Amur for 12
years, previously Mr. Young was employed as an exploration and mine
geologist, mining engineer, construction manager of a mine start up
as well as independent consultant with Fluor Engineers, Fluor
Australia and Western Services Engineering, Inc. during which time
his responsibilities included the independent compilation of
resources and reserves in accordance with JORC standards. In
addition, he has been the lead engineer and project manager in the
compilation of numerous studies and projects requiring the
compilation of independent Bankable Studies utilised to finance
small to large scale projects located worldwide. Mr. Young is
responsible for the content of this announcement.
For further information, see the Company website at
www.amurminerals.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBRGDSUBBBGRI
(END) Dow Jones Newswires
April 19, 2017 02:00 ET (06:00 GMT)
Amur Minerals (LSE:AMC)
Historical Stock Chart
From Apr 2024 to May 2024
Amur Minerals (LSE:AMC)
Historical Stock Chart
From May 2023 to May 2024