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Amur Minerals Corporation extends convertible loan facility

Some US$1.2mln has utilised already with a further US$500,000 now to be drawn down

Kun-Manie
Kun-Manie is a huge nickel/copper deposit

Amur Minerals Corporation (LON:AMC) has extended the maturity date on its US$10mln convertible loan facility with Riverfort Global and YA II PN until March 2020.

Some US$1.2mln has utilised already with a further US$500,000 now to be drawn down.

As part of the loan extension the lenders will receive warrants exercisable at 3.76p.

Amur will use the money to upgrade the resource at Kun-Manie in Far East Russia and add new technical data, cost information and metallurgical test work to the pre-feasibility study.

Expansion of the resource and reserve will enhance the reported PFS results through an expansion of the mine life and optimisation of the production schedule, said Robin Young, Amur’s chief executive.

 

 

 

Quick facts: Amur Minerals Corporation

Price: 2.01 GBX

LSE:AMC
Market: LSE
Market Cap: £16.8 m
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Amur Minerals highlights significant increase in underlying earnings for...

Robin Young, chief executive at Amur Minerals Corporation (LON:AMC), discusses with Proactive's Andrew Scott an increase in the projected global underlying earnings (EBITDA) assessment of the mining potential at the Kun-Manie nickel copper sulphide project. The projected EBITDA has...

on 16/4/18

2 min read