Last checked at 29 Apr 2014 07:00
29 April 2014
AMUR MINERALS CORPORATION
(AIM: AMC)
APPOINTMENT OF PRESIDENT OF RUSSIAN OPERATIONS
Amur Minerals Corporation ("Amur" or the "Company"), a nickel copper sulphide exploration and development company located in the far east of Russia, is pleased to announce the appointment of Mr. Randolph Lewis as President of Russian Operations, a non-Board appointment.
Initially, Mr. Lewis' primary activities will be focused in Moscow where the Company is working with various ministries related to the Company's application for the production rights on its Kun-Manie exploration licence. His demonstrable track record, including a decade of experience in the Commonwealth of Independent States ("CIS") and Russia, including experience in the construction, finance and mining sectors. This experience will be significant to the Company as it advances its Kun-Manie project.
· Mr. Lewis has joined the Company in the capacity of President of Russian Operations and Advisor to the Board of Directors, reporting to CEO Mr. Robin Young.
· Based in Moscow, Mr. Lewis will dedicate his efforts to working with all agencies related to the granting of the exploration and production rights for the Kun Manie project. Mr. Lewis, fluent in Russian, has extensive experience in Russia and the CIS.
· Mr. Lewis' full time presence in Moscow will provide the Company with the ability to respond promptly and effectively to any queries related to the mining licence application. This is important as the frequency of meetings related to licencing considerations is increasing and prompt responses are necessary.
· In addition to the licencing aspects centered in Moscow, he will significantly contribute to the long term objectives of Amur, prior to and once the mining licence application has been granted. Mr. Lewis has successfully led international companies in the construction, finance and mining sectors. This expertise will be useful in the future.
Robin Young, CEO of Amur Minerals Corporation, stated:
"I am pleased that we have been able to bring such an experienced individual like Mr. Lewis onto our team. His having worked in Russia for western resource companies further enhances Amur's knowledge base and contacts. With the increase in activities related to the mining application, his addition is very welcome."
Enquiries:
Company Amur Minerals Corp. | Nomad and Broker S.P. Angel Corporate Finance LLP | Public Relations Yellow Jersey |
Robin Young CEO | Ewan Leggat Laura Harrison | Dominic Barretto Kelsey Traynor |
+44 (0) 7981 126 818 | +44 (0) 20 3463 2260 | +44 (0) 7799 003 220 |
Notes to Editors
About Amur Minerals:
Amur Minerals Corporation (AMC) is a developing mineral exploration company focused on base metal projects in the far east of Russia. The Company's principal asset is the Kun-Manie sulphide nickel, copper project located in Amur Oblast, with JORC resources in excess of an 830,000 nickel equivalent tonnes and a positive independently compiled prefeasibility study ("PFS) by SRK Consulting Ltd ("SRK"). During the last ten years, five deposits have been identified and drilled at Kun-Maine. The mineral inventory contains Measured, Indicated and Inferred resources totaling 120.8 million tonnes with an average grade of 0.54% nickel and 0.15% copper. The contained nickel is estimated to be 650,600 tonnes with copper being 178,400 tonnes. This equates to 1.4 billion pounds of nickel and 0.4 billion pounds of copper. A total of 16.9 tonnes of platinum and 18.0 tonnes of palladium are also present as by product metals.
In 2007, a positive prefeasibility study ("PFS") was compiled by SRK Consulting Ltd ("SRK") wherein capital and operating costs estimates were compiled and an NPV of $US 84 million (10% discount rate) was determined. The design of the project was based on three drilled deposits identified at that time. Three open cast mines would provide sulphide ore to a conventional flotation mill designed to beneficiate 4.0 million tonnes of ore per annum. In order to construct, supply and maintain the operation, a 320 kilometre long access road from the nearest rail station on the BAM rail line to the east where the proposed mine is to be located. The road must be completed to permit the construction of the operation as well as resupply the site. The road would also be utilised to transport saleable concentrates to the rail system for ultimate delivery to a smelter located 5,300 kilometres away.
Presently, the Company is completing an internal review of the project to establish an optimal design for Kun-Manie and the five deposits. Operating and capital cost estimates have been updated to Q1 2014 costs and a comprehensive rescheduling of the mine production schedule is being implemented. Results will be announced when available.