Chairman’s Statement
On behalf of Amur Minerals Corporation (“Amur” or the “Company” or the “Group”), I take this opportunity to update shareholders on the Company’s progress during the first six months of 2023.
On 6 March 2023, we were pleased to announce that the Company had completed the sale of its wholly owned Russian Federation (“RF”) subsidiary AO Kun-Manie along with its fully controlled Detailed Exploration and Mine Planning Licence (“DEMP”). The transaction grossed the Group a total of US$35 million allowing us to have recaptured our RF sunk costs. As a result of the sale, the Company no longer holds any assets in, or conducts any business in, the RF. The effect of the disposal of our RF subsidiary was to divest the Company of all of its trading business, activities and assets such that on completion of the disposal, the Company became an AIM Rule 15 cash shell.