Amur Minerals Corporation NRR Update (2549D)
October 27 2020 - 02:00AM
UK Regulatory
TIDMAMC
RNS Number : 2549D
Amur Minerals Corporation
27 October 2020
27 October 2020
Amur Minerals Corporation
("Amur" or "the Company")
NRR Update
Amur Minerals Corporation ("Amur" or the "Company"), the
nickel-copper sulphide mineral exploration and resource development
company focused on the far east of Russia, is pleased to announce
that certain existing shareholders of Nathan River Resources Pte
Limited ("NRR"), have opted to provide further US$10 million in
equity financing to NRR to provide additional working capital to
advance the shipment of stockpiles and processing of mined blocks
at the Roper Bar Iron Ore project in the Northern Territories,
Australia, in order to take advantage of the current high iron ore
prices.
Amur was offered the opportunity to participate in the
additional equity but declined in order to focus existing funds on
the Kun-Manie nickel/copper sulphide project. Following the
additional equity investment into NRR, Amur's convertible loan
notes will be convertible into 13.43 per cent of the current issued
share capital of NRR .
Adam Habib, President of Amur Minerals Corporation, commented
:
"NRR has exceeded our expectations in regards to the
rehabilitation of the infrastructure and the mine start up process.
The increased shipment targets for this year will deliver dividends
in the long run that will capture the higher iron ore prices and
will enable NRR to reach profitability sooner. "
For more information on the Roper Bar Iron Ore project, visit
the NRR website on www.nathan-river.com
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Enquiries:
Company Nomad and Broker Public Relations
Amur Minerals Corp. S.P. Angel Corporate Blytheweigh
Finance LLP
Robin Young CEO Richard Morrison Megan Ray
Soltan Tagiev Tim Blythe
+44 (0) 20 3470
+7 (4212) 75 56 15 0470 +44 (0) 20 7138 3204
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END
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