Amur Minerals (AIM: AMC) is a nickel copper exploration company with assets in far eastern Russia. The company’s principal asset is the 100% owned Kun-Manie exploration licence, a nickel-copper-PGM deposit located in the Amur Province in the far east of the Russian Federation. Work carried out to date on the Kun-Manie licence including diamond core drilling, trenching and geological mapping has identified three mineralised targets, the Vodorazdelny, Ikenskoe and Falcon zones which each warrant further exploration.

Amur Minerals has successfully placed 12.36 million new Ordinary Shares at a price of 33p per Ordinary Share to raise approximately £4.1m gross, giving it a market capitalisation of approximately £28.4m. The proceeds of the Placing will be used to continue in-fill diamond drilling at Vodorazdelny, Ikenskoe and Falcon.

Robin Young, CEO, commented: “This offering is a milestone for Amur Minerals. It will place us on the radar screen of AIM market investors who are familiar with how mining companies set their strategies and do business. The funds invested will support our development of the nickel, copper and platinum-group metals resources in the Kun-Manie field, in Russia’s Amur province.

With the combination of our strong Board and management team, the right partners, access to promising mineral resources and appropriate initial financing, we look forward to the future with both enthusiasm and confidence.”

Nabarro Wells & Co. Limited is acting as Nominated Adviser to the Company and Fox-Davies Capital Limited is the Broker.