Amur Minerals Corporation (LSE: AMC) is a mineral resource exploration and development company based in Russia.
Amur was admitted to AIM on 15th March 2006 and raised £4.1 million in gross proceeds by placing 12.36 million ordinary shares at a share price of 33 pence each.
Following the placing, AMC had 86.2 million shares in issue and the market capitalisation of the company was £28.4 million.
In August 2023, AMUR had 1.393 billion shares in issue and the AMC share price was 0.175 pence giving a market cap of £2.5 million.
Overview of the company’s assets
Amur Mineral’s main asset is the 100% owned Kun-Manie exploration and production licence, containing a nickel-copper sulphide deposit. The licence area covers 36 square kilometres and is valid until 1st July 2035.
The Kun-Manie mine contains one of the highest nickel sulphide grades globally with Ni Equivalent grade of 1.02% and a nickel resource estimated at 155 million ore tonnes with projected annual production of 6.0 million tonnes over a 15 year production life.
In addition to the nickel resource identified in the Pre-Feasibility Study, in June 2020, a Metallurgical report indicated that the mine could also contain up to 20 million pounds of copper, 2,000 ounces of gold and 25,000 ounces of silver.
The mine is located in the Far East of Russia, on the Chinese border, in an established mining region, with access to major nickel and copper markets in China, Japan & Korea.
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