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 approaching 1.0 million tonnes (958,000 nickel equivalent tonnes (based on 31 March 2016 metal prices). A total of 726,000 tonnes of nickel and 206,400 tonnes of copper have been drill defined. The resource averages 0.45% nickel and 0.13% copper. Recoverable by-product mineralisation is present in the form of platinum (19.9 tonnes at 0.1 g/t) and palladium 20.7 tonnes. The project also contains minor cobalt, gold and silver. This resource places it among the 20 largest nickel copper sulphide projects in the world with substantial potential to further expand the resource immediately adjacent to four of the five drill identified deposits. Discovery costs per pound of nickel are projected to be in the order of $0.03 US. Geographically, it is located adjacent the three largest nickel consuming markets in the world including China, Japan and South Korea.
The Company holds a 20 year production licence on a 36 square kilometre area which allows for extraction and recover of 100% of the contained metal. The licence can be extended beyond the current 1 July 2035 expiration date should additional economic mineralisation be defined.
Technically and economically, the Kun-Manie project presents the Company and our shareholders the opportunity to transition from an exploration company into a Tier 1 producer. In 2007, the first study milestone, a Pre-Feasibility Study completed by SRK Consulting, indicated the project was potentially economic and that ongoing exploration and engineering work was warranted. Work completed since the issuance of the study and through 2015 has resulted in the compilation of an internal Preliminary Economic Assessment done to Pre-Feasibility accuracy.
The Blueprint was compiled based on a series of sensitivity analyses that have substantially improved the economic potential of the project over that defined in the 2007 Pre-Feasibility Study. Analyses indicate that the presently defined resource (159.6 million tonnes of ore) can source sufficient reserves (at 0.45% nickel and 0.13% copper) to sustain production over a 15-year mine life at 6.0 million tonnes per annum. It is planned that the processing plant will generate a concentrate derived for the mine feed derived from four open cast pits and three underground operations. It is intended that the concentrate will be truck hauled from the mine over a 350 kilometre access road to a smelter to be established by the Company located along the Baikal Amur rail line.
The Company has strong Russian and State support. As it is located in the Far East of Russia, Kun-Manie is registered as a Far East Development project. This provides advantages to the Company including access of funds for infrastructure development, metal extraction and tax incentives as well as access to funding support by the Far East and Baikal Region Fund.
The Company is now in final exploration stages where detailed drilling is being conducted and studies are being compiled for inclusion in a Definitive Feasibility Study targeted for completion in Q1 of 2018.
Mr. Schafer has nearly 40 years of experience in the mineral industry, working in the international sector with both major and junior mining companies. He is founder and Managing Director of Eagle Mines Management, a globally active private natural resources corporation. Read more
Mr. Young is a geological engineer who has worked extensively in the CIS since 1991. He has 39 years of experience in the mineral resources industry overall, which has included large scale projects in remote areas as well as significant work with junior mining companies. Read more
Mr. Savage has more than 35 years of experience in all aspects of the mining industry. Brian is currently Chairman of Sage Management LLC, a privately held company he founded to advise and invest in natural resource projects and companies. Read more
Mr. Gazzard, who has acted as an external adviser to Amur for four years, joins the Board with over 10 years of experience working across large institutions in the City of London in his role as a Fund Manager. Read more
Mr. Naumovski has more than three decades of experience working in Russia, most recently as Vice President and General Director of the Moscow office for Kinross Gold Corporation, the largest Canadian investor in Russia. Read more
Mr. McKay is a fellow of the Association of Chartered Accountants (ACCA) and has over 25 years of experience providing financial expertise to a number of industries in areas of banking, accounting, taxation, corporate structuring and corporate finance. Read more
Mr. Lewis has led Western businesses in Russia and the CIS for much of the past two decades. He graduated with a degree in Russian Studies from Washington and Lee University in Virginia in 1995 and also studied international business at St Louis University. Read more