Amur Minerals shares drop on delayed sale of Kun-Manie project
(Alliance News) - Amur Minerals Corp on Monday said it has faced delays with the sale of its Kun-Manie project, due to restrictions on transferring funds to Russia.
Read more(Alliance News) - Amur Minerals Corp on Monday said it has faced delays with the sale of its Kun-Manie project, due to restrictions on transferring funds to Russia.
Read moreAmur Minerals Corp - natural resources explorer with assets in Russia - Swings to a pretax loss of USD1.7 million for the six months to June 30 from a profit of USD236,000 a year earlier. Administrative expenses jump by 55% to USD1.7 million from USD1.1 million, caused by an increase in "legal fees in connection with the proposed sale of Kun-Manie", Amur explains. Says currency translation loss surges to USD8.5 million from USD400,000 a year ago due to the strengthening of the Russian rouble against the dollar.
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Amur Minerals Corp - natural resources explorer with assets in Russia - Enters into a share purchase agreement with subsidiary Irosta Trading Ltd for the sale of Irosta's AO Kun-Manie firm, for a total consideration of USD35.0 million. AMC says Bering Metals LLC, a Russian incorporated company will purchase AO KM under intragroup loans. Says AO KM is an exploration and mining company, which holds the mineral licence for the Kun-Manie nickel-copper sulphide project, Russia.
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Read moreAmur Minerals Corp - natural resources explorer with assets in Russia - Completes a Russian feasibility level study at its Kun-Manie nickel copper sulphide project in Russia. The Russian Federation State Committee on Reserves approves a 19-year open pit operational design with revenue generation derived from two saleable concentrates allowing for the recovery of both copper and nickel. The total net present value deliverable to the Russian Federation is projected to be USD628 million.
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Amur Minerals Corp - natural resources explorer with assets in far-east Russia - Enters agreement together with subsidiary Irosta Trading Ltd to sell the subsidiary's AO Kun-Manie firm. Says AO Kun-Manie is an exploration and mining company which holds the exploration and mine production mineral licence for the Kun-Manie nickel-copper sulphide project in Amur Oblast, Russia. Says it will sell AO Kun-Manie to Stanmix Holding Ltd for USD105 million which will be completed in a series of payments. Intends to use the proceeds for an acquisition through a reverse takeover within six months of the completion.
Read more(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
Read more(Sharecast News) - Russia-focussed nickel-copper-sulphide explorer and developer Amur Minerals updated the market on the effect of sanctions on Wednesday, having been "continuously reviewing" those put in place by the European Union, the UK and the United States since Russia's invasion of Ukraine.
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Read moreIN BRIEF: Amur Minerals shares jump on deal to sell Kun-Manie project
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