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General mining & base metals

Amur Minerals finds a new friend in Black River Asset Management

Amur Minerals Corporation (AIM: AMC) found a new supporter in the shape of Black River Asset Management. Amur raised £1.02 million by way of a placing 6 million ordinary shares at 17p with Black River Asset Management, representing 5% of th

Proactive

Amur Minerals Corporation (AIM: AMC) found a new supporter in the shape of Black River Asset Management.

Amur raised £1.02 million by way of a placing 6 million ordinary shares at 17p with Black River Asset Management, representing 5% of the Company.

Amur said it intended to use the proceeds to fund ongoing exploration and development work at the Kun-Manie nickel exploration project in the Amur region of Far East Russia.

The Placing Price of 17 pence per share represented a 1.5% premium to the middle market closing price of 16.75 pence per share on 1 July 2008.

Robin Young, CEO of Amur, stated:

'It is another exceptionally strong endorsement for Amur that we can raise capital at a premium to the share price for the second time this year. We are delighted to welcome Black River as a new and significant shareholder to the Company.'