Amur Minerals Kun Manie Russia mine has significant nickel, copper deposits but also with by products of cobalt, platinum, palladium, gold and silver. Amur Minerals are negotiating the funding of mine development.
Mine developer Amur Minerals was among Friday’s top small cap risers thanks to a possible funding deal with Russia to support the proposed Kun Manie mine.
Amur is already talking to strategic partners in Russia, China and India. And those efforts remain the ‘cornerstone’ of its strategy to develop a mine.
But, a new agreement with a development agency for Russia’s Far East and Baikal Region could now open up federal funding for key elements of the project.
Amur was given a long awaited mining permit by the Russian authorities last May, and it has described today’s milestone as a ‘launching point’ for detailed negotiations.
Up 28 per cent this morning Amur shares traded at 8.5p each.
Generally, for the whole small cap market it was another steadily positive week. Standing at 3,290 this morning, the FTSE AIM 100 benchmark had gained 1.1 per cent over the past five day while over the same period the AIM All-Share added 1.2 per cent.