Amur completes ice road, starts bringing supplies to Kun-Manie

2nd March 2018 By: Schalk Burger - Creamer Media Senior Deputy Editor

JOHANNESBURG (miningweekly.com) – Aim-listed nickel/copper sulphide exploration and development company Amur Minerals has completed a 350 km ice road to its Kun-Manie project, in the Amur province in far east Russia, and has begun restocking supplies for the 2018 field season.

In a press release issued on Friday, the company noted that nine vehicle convoys were transporting the supplies that have been marshalled at the company's Ulak rail station siding, on the Baikal–Amur rail line, to Kun-Manie.

“Two of the eight planned trips have been completed. Thus far, 80 m3 of fuel, supplies, spares and food for the upcoming season have already been delivered.”

The completion of the ice road represents an achievement of one of the milestones required under the financing agreement entered into by the company on February 13 for the subsequent advance of a loan, Amur said.

“This is the most cost effective way to resupply our operation. Upon completion of the restocking effort, the company will be in a position to diamond core drill a planned 15 000 m and undertake several site investigation studies to gather additional information for engineering design considerations.”

Other milestones required are the completion and announcement of the resource update, updated openpit design, the openpit or underground trade-off study and the updated prefeasibility project economics, all of which the directors believe will be completed prior to the date that the company can exercise its option to give notice for a further loan advance.

“Two further milestones to be met are that the total daily traded value for the 30 days prior to the second advance date is greater than the total daily traded value for the 30 days prior to the initial advance date, and that the volume weighted average price (VWAP) of the second advance date is 50% greater than the VWAP on the initial advance date,” Amur CEO Robin Young said.

"With the construction of the winter ice road being completed on February 15, a week earlier than the previous year, our 30 man transport team will continue to deliver supplies, fuel, spares and materials to site.

“Operating on a 24-hour-a-day cycle, seven days a week, we anticipate successful and complete resupply of the site. The resupply will allow us to finish up the majority of our site investigative work for moving the project forward to a final production decision and design,” concluded Young.