Amur Minerals Corporation (“Amur” or the “Company”), the nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, is pleased to announce that following the announcement dated 25 August 2020.
Amur has received its first interest payment for the quarter ended 30 September 2020 on the Company’s investment in the Convertible Loan Note in Nathan River Resources Pte Limited who own the Roper Bar Iron Ore project located in the Northern Territories, Australia.
For more information on the Roper Bar Iron Ore project, visit the NRR website on www.nathan-river.com
Amur’s $4.67m investment via a Convertible Loan Note in Nathan River Resources (NRR) (who own Roper Bar) carries a 14% coupon. The return on this should amount to quite a tidy return in terms of bankrolling Amur’s flagship Kun Manie project.
That is not to say that Roper Bar is insignificant in its own right, being a 446m tonne JORC resource. Added plus points are that the project in Australia is set to commence production imminently, and as Amur has a CLN, should things blossom with Roper Bar, it has the option to convert into an equity share and then get paid a dividend.
There is also the maths of Roper Bar to consider: 4-5m tonnes of production annually, at an iron ore price of even $100 a tonne or more, and revenues are pretty substantial at $500m a year. Amur’s 19% share of Roper Bar means it could earn close to $100m per annum.
Perhaps the icing on the cake though is the way that the deal to buy into NRR involved multinational miner Glencore (GLEN), and the process clearly brought Amur closer to the giant company in terms NRR’s offtake agreement being with it.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
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