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Amur Minerals To Hold Annual General Meeting For Shareholders

Nov. 24, 2014 8:40 AM ET
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Minerals exploration and development company Amur Minerals Corporation (AIM: AMC) had announced it will be holding its annual general meeting today, a report from StockMarketWire.com said.

The report revealed the LSE-listed company will hold the AGM at the Regus Business Centre, 2825 E. Cottonwood Parkway, Suite 500, Salt Lake City Utah on 24 November at 9 a.m. (Mountain Standard Time). No other details about the AGM are available as of this posting.

Amur Minerals stocks rose sharply last week, jumping more than 10 percent to 6.60p at the end of Friday's trading session. According to Alliance News, Amur Minerals stocks were up 20.4% on Thursday, representing a 100 percent rise within three months.

Alliance News also noted that the company's stocks have been on an upswing since September 2 after Amur has published updates on the progress of its application for a mining license for its Kun-Manie project in the Russian Far East. The company has been recently focused on converting its exploration license into a production license.

Earlier this month, a news release from the company revealed that Russia's Federal Agency for Subsoil Use or Rosnedra has recommended Amur's application for further consideration and approval to the Ministry of Natural Resources (MNR). MNR is tasked to review the license grant application prior to the office of Prime Minister Dmitry Medvedev.

Amur Minerals Chief Executive Robin Young expressed his appreciation of Russian authorities' support of the project in a news release Thursday: "We are very pleased to be able to inform our shareholders that the mining license conversion process continues to move forward with the support of the Russian authorities and in particular Rosnedra."

"We also note that our counterparts in the various Russian agencies continue to demonstrate that they are highly motivated, professional and interested in the successful development of Kun-Manie. This is discernible in the fact that Rosnedra completed the last round of work in a week."

"Both Amur and the Russian Federation's local and national interests are aligned wherein all recognize that the successful granting of the production rights and subsequent development of the project will add greatly to the socioeconomic development of the important Far East region."

In its project brief, the company said that it acquired its 95,000-hectare Kun-Manie exploration license in 2004. Amur Minerals owns 100 percent of the Kun-Manie project which is located in Russian federal subject Amur Oblast, some 700 km northeast of Blagovenshchensk.

The company added that the site "was selected based on historical Soviet data which indicated the potential presence of sulphide nickel and copper." It explained that Kun-Manie possesses a massif that was replete with "economic amounts of sulphide nickel, copper, cobalt, platinum and palladium."

The company said license-wide exploration has determined "the presence of a 40 kilometre long by 2 kilometre wide structure called the Kurumkon Trend" at the site that features primary deposits of sulphide nickel and copper.

Amur Minerals said shareholders can access resolution details that are up for discussion for the meeting through its official website, http://www.amurminerals.com/.

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