Amur Minerals Corp - Russia-focused nickel copper sulphide exploration company - Completes the disposal of its interest in the Kun-Manie nickel copper sulphide project in Russia to Bering Metals LLC for USD35 million. The price represents a 44% premium to the Kun-Manie book value of USD24.3 million as at December 31, 2021. As a result of the disposal, Amur says it intends to pay a special dividend of 1.8 pence per share to shareholders within 90 days of the receipt of the consideration.
Chief Executive Robin Young says: "The completion of the disposal and the receipt of funds will be a positive outcome for both the company and its shareholders. We are pleased to have achieved the sale of Kun-Manie which will enable the company to move forward in a new direction, which we envision will result in shareholders seeing real value."
Current stock price: 1.65 pence, up 64% on Monday morning in London
12-month change: up 46%
By Heather Rydings, Alliance News senior economics reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Amur Minerals (AMC)