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Amur Minerals Corp - natural resources explorer with assets in far-east Russia - Says Oreall LLC completes permanent conditions report at Kun-Manie nickel copper sulphide project in Russia. It shows the nickel cutoff grade is calculated to be 0.3% nickel. Revenue is based on a presently conservative nickel price of USD13,300 per tonne and a copper price of USD5,960 per tonne. Metal recoveries are anticipated to be 74% for nickel and 52% for copper. Mine ore production and the nominal mill throughput at six million tonnes per annum indicates a potential mine life in the order of 25 years.
The report says the reserve base is substantial and suitable to potentially sustain an 11.2 million tonne per year throughput. "Oreall's analysis and documentation is complete and is now undergoing the mandatory review process by the Russian government Commission for Natural Resources Reserves," Amur adds. Completion of government review will set out reserves available for open pit mining.
Current stock price: 1.84 pence, down 25% on Friday
Year-to-date change: up 15%
By Eric Cunha; ericcunha@alliancenews.com
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