(Alliance News) - Natural resources company Amur Minerals Corp on Monday said it has repaid the remaining USD853,000 of the convertible loans outstanding to Riverfort Global Opportunities PCC Ltd and YA II PN Ltd.
Amur shares were trading 29% higher in London in afternoon trade at 2.60 pence each.
Back in February 2018, Amur entered a USD10.0 million convertible loan facility, which was used for the development of its Kun-Manie nickel-copper sulphide project in Russia.
"The investment and support provided by Riverfort since February 2018 enabled Amur to continue the development of the project with the successful completion of the 2018 drill season, and the initiation of our current TEO feasibility study work programme," said Chief Executive Robin Young.
"The company was also able to complete the acquisition of the bulk samples for metallurgical test work, hydrological and rock mechanic drilling in 2018, all of which form important inputs into the TEO report," added Young.
The TEO is an independently compiled Russian feasibility study which will allow the company to proceed to the next stage of development at Kun-Manie.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Amur Minerals (AMC)