LONDON (Alliance News) - Amur Minerals Corp on Tuesday said the resource estimate for the Kun-Manie mine in Russia has been upgraded.
Amur said the global nickel equivalent estimate for the entire project has been increased to 958,000 tonnes from 831,000 tonnes, while the nickel metal resource estimate has been hiked to 723,000 tonnes from 650,600 tonnes.
For the Maly Kurumkon/Flangovy deposit at the site, total contained nickel has been increased to 366,600 tonnes, up 25% from the previous estimate and ahead of Amur's expectations.
The new estimates were compiled by SRK Consulting (UK) Ltd.
"An optimal production schedule could well result in moving the underground production forward in the life of mine schedule. We anticipate that this will improve the project economics by recovering more metal in earlier years," said Robin Young, Amur's chief executive.
Amur shares were down 4.3% to 5.84 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Amur Minerals (AMC)