Amur Minerals Corporation Licence Payment Completed (1289R)
June 25 2015 - 2:00AM
UK Regulatory
TIDMAMC
RNS Number : 1289R
Amur Minerals Corporation
25 June 2015
25 June 2015
AMUR MINERALS CORPORATION
(AIM: AMC)
Kun-Manie Licence Transaction Completed
Required Payment Completed
Amur Minerals Corporation ("Amur" or the "Company"), the
exploration and development company focused on base metal projects
located in the Far East of Russia, is pleased to report the Company
has completed its acquisition of the "Detailed Exploration and
Production Licence" ("Licence") by transferring the one-time
payment for the Licence conversion. A total of 23.6 million Roubles
(approximately US$445,000) were transferred by the Company's
subsidiary ZAO Kun-Manie on 24 June 2015. Key highlights include
the following:
-- The payment of 23.6 million Roubles (approximately $445,000
US) by our wholly owned ZAO Kun-Manie completes the transaction
assigning the production rights of 100% of the recoverable
metal.
-- The Licence covers a twenty year period to 1 July 2035 which
can be extended if additional mineralisation is discovered and
warrants mining.
The final step in acquisition of the "Detailed Exploration and
Production Licence" for Kun-Manie was completed with the submission
of the conversion payment to Dalnedra, a subsidiary of Rosnedra.
This payment provides the Company with the right to mine and
recover all nickel, copper, cobalt, platinum, palladium, gold and
silver from the Strategic deposit. The payment was due 10 July
2015, one month after registration of the Licence.
Robin Young, CEO of Amur Minerals Corporation, commented:
"It is with pleasure I report that our wholly owned subsidiary
ZAO Kun-Manie has transferred the necessary funds for the one-time
payment completing acquisition of the production licence rights for
100% of the metal at Kun-Manie. We are moving on to the next phase
of evaluating Kun-Manie by infill drilling and initiation of the
metallurgical test work."
Enquiries:
Company Nomad and Broker Public Relations
Amur Minerals S.P. Angel Corporate Yellow Jersey
Corp. Finance LLP
Robin Young Ewan Leggat Dominic Barretto
CEO Katy Birkin Kelsey Traynor
+44 (0) 7981 +44 (0) 20 3470 +44 (0) 77
126 818 0470 6853 7739
Notes to Editors
The information contained in this announcement has been reviewed
and approved by the CEO of Amur, Robin Young. Mr. Young is a
Geological Engineer (cum laude) and is a Qualified Professional
Geologist, as defined by the Toronto and Vancouver Stock
Exchanges.
For further information, see the Company website at
www.amurminerals.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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