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5 Jun 2009 08:00
5 June 2009
Amur Minerals Corporation ("Amur" or the "Company")
(AIM: AMC)
SHARE EXCHANGE AND PLACING
Further to the announcement on 1 June 2009 regarding the Share Exchange and Placing (as defined in that announcement), Amur announces that completion of these transactions has been delayed pending final execution by Grafton Resource Investments Ltd. of the contractual documentation. Consequently admission to trading on AIM of 24,200,000 new Ordinary Shares in Amur has not taken place today as anticipated.
The Directors expect that Admission, and therefore completion of the transactions, will now take place in the week commencing 8 June 2009. A further announcement will be made in due course.
Enquiries:
|
Company Amur Minerals Corp. |
Nomad and Broker RBC Capital Markets |
Public Relations Lothbury Financial |
|
Robin Young |
Martin Eales |
Michael Padley |
|
CEO |
Libby Moss |
|
|
+44 (0) 7981 126 818 |
+44 (0) 20 7029 7881 |
+44 (0) 20 7011 9411 |
Notes to Editors
Amur Minerals Corporation is a mineral resource development company focused on base metal projects located in the far east of Russia where it has three projects. Its JORC compliant resource estimate for its flagship Kun-Manie project is 341,000 tonnes of contained nickel and 95,500 tonnes of copper and this is expected to increase as further exploration is completed. This resource, which has been identified and progressed in only 20 months of field work is one of the largest nickel sulphide discoveries since Voisey's Bay.
An independently compiled pre-feasibility study of Kun-Manie conservatively indicates a Post Tax NPV (10%) of $84 million with an IRR of 15.7%. The study contemplates producing 16,000 tonnes of recoverable nickel per year in concentrate from three deposits drilled to date on the Kun-Manie license as well as noting considerable upside potential.
For further information about Amur, please visit the Company's website at www.amurminerals.com.
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