Update: Financing to FEED
Amur (AMC) has announced that that it has entered into a subscription agreement with Crede Capital Group whereby the latter will invest £12.5m (plus warrants) into Amur in five equal tranches, at respective 90-day intervals from the first tranche on 14 December. Whereas Amur previously had approximately sufficient funding to complete its DFS, this agreement ensures that funding is now sufficient to advance the project through the DFS and into the FEED (front-end engineering & design) stage. Among other things, this will include the initial access road and power designs, reserve determination (for both open pit and underground), metallurgical test-work, bulk sampling, process design work, site and ancillary support facilities and assessment of the response of the concentrate to the various smelting alternatives.
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