RE: Motoring now31 Oct 2019 07:59
News Amur Minerals Surges On Kun Manie Agreement With China's Jinchuan LONDON (Alliance News) - Amur Minerals Corp on Monday said it has signed a non-binding memorandum ...
Alliance News31 October, 2016 | 8:26AM Email Form
LONDON (Alliance News) - Amur Minerals Corp on Monday said it has signed a non-binding memorandum of understanding with China's Jinchuan Nickel & Cobalt Research & Design Institute Co Ltd for the Kun Manie nickel-copper sulphide project located in the far east of Russia.
Under the proposed agreement, Jinchuan will provide engineering, design, procurement and construction work on the project. Amur said the pair will now start a due diligence period during which Jinchuan's technical team will assess its ability to work with Amur on the project.
"We are pleased to inform our shareholders that we are now in a position to add a new phase to the development of our Kun-Manie nickel copper sulphide project. With our proximity immediately adjacent to China, we are now poised to incorporate China into our development strategy," said Robin Young, Amur's chief executive.
Amur shares were up 13% early Monday to 3.91 pence, one of the best performers in the AIM All-Share. The stock initially jumped 25% to 4.90p.