Corporation (“Amur” or the “Company”), the nickel copper exploration and development company focused on base metal projects located in the far east of Russia, is pleased to announce that it has raised £5.2 million (before expenses) by way of a subscription by new and existing shareholders for a total of 71,724,141 ordinary shares at 7.25 p each (the “Subscription”).
The funds will be used by the Company to continue exploration and advance the Company’s Kun-Manie project (“Kun-Manie” or “the Project”) including: the development of an optimised production schedule, the update of the current economic model including all newly acquired technical data and cost information, additional metallurgical test work, the purchase of long lead time equipment necessary for the 2014 drill programme, and general and administrative requirements.
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