Amur Minerals Corporation Q1 2021 NRR Convertible Loan Note Payment (2856U)
01 April 2021 - 9:54AM
UK Regulatory
TIDMAMC
RNS Number : 2856U
Amur Minerals Corporation
01 April 2021
01 April 2021
Amur Minerals Corporation
("Amur" or "the Company")
Q1 2021 NRR Convertible Loan Note Payment
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 on 31 March 2021, Amur received its Q1 2021 interest payment
of US$161,206 based on the US$4.67 million Convertible Loan Note
("CLN") investment for the resumption of production at the Northern
Territories, Australia Roper Bar Iron Ore Project (the "Project")
operated by Nathan River Resources Pte Limited ("NRR").
Highlights:
-- This quarterly payment totaling US$ 161,206 covers the period of Q1 21 ending 31 March 2021.
-- The coupon for the US$ 4.67 million investment is 14% and is
convertible to 13.43% of the current share capital in NRR.
Conversion is scheduled for 25 August 2023.
-- During Q1 21, three vessels were loaded and departed for
China bringing the total number of shipments to five since
implementation of the CLN investment.
The NRR Roper Bar Investment
Amur's interest in NRR is held through its wholly owned
subsidiary, Carlo Holdings Limited ("CHL"). The purchase value of
the CLN's was US$4.67 million and is convertible to 13.43% of the
share capital of NRR, a privately owned company.
The CLNs are convertible at the holder's option at any time from
issue until 15 days prior to their maturity date on 25 August 2023.
Amur's CLNs may be converted into 13.43 % of the current issued
share capital of NRR. Any CLNs not converted by the third
anniversary of issue will be redeemable at par. CLNs may be
redeemed early by NRR at any time but in such circumstances the
relevant holder is entitled to be issued with a warrant giving it
subscription rights over shares in NRR equivalent to the conversion
rights attaching to the CLNs and a penalty payment equal to all of
the unpaid but due coupons to maturity. Glencore is also a holder
of CLNs which are convertible into the equity of NRR.
The CLNs provide security over the issued share capital of NRR
Group Pty Ltd and its subsidiary's interest in the mineral leases
and mineral exploration licenses owned by it in connection with the
Roper Bar Project once CHL / Amur receive Foreign Investment Review
Board ("FIRB") confirmation that there is no objection to grant
such security. An application has been submitted to the FIRB which is pending their decision.
Robin Young, CEO of Amur Minerals Corporation, commented:
"Over Q1 2021, the iron ore price in China has averaged
US$166.88 per tonne for benchmark iron ore fines at 62% iron (CFR
N. China). The Nathan River Resources' Roper Bar Iron Ore Operation
continues to benefit from the sustained price increase of more than
50% run up in iron ore during 2020.
"Mining Advisor Robert Marsden has opted to not renew his
services agreement with Amur and also to simultaneously step down
from his NRR board position assigned by Carlo Holdings prior to its
acquisition by Amur. The Board of Amur through its wholly owned
subsidiary Carlo Holdings has nominated Robin Young as his
replacement."
For more information on AMC's assets, visit www.amurminerals.com
and twitter page @amur_minerals regarding the Kun-Manie nickel
copper sulphide project and www.nathan-river.com for the Roper Bar
Iron Ore project.
Competent Person's Statement
The information contained in this announcement has been reviewed
and approved by the CEO of Amur, Mr. Robin Young. Mr. Young is a
Geological Engineer (cum laude), a Professional Geologist licensed
by the Utah Division of Occupational and Professional Licensing,
and is a Qualified Professional Geologist, as defined by the
Toronto and Vancouver Stock Exchanges and a qualified person as
defined by the AIM Rules for Companies. An employee of Amur for 15
years, previously Mr. Young was employed as an independent
consultant with Fluor Engineers, Fluor Australia and Western
Services Engineering, Inc. during which time his responsibilities
included the independent compilation of resources and reserves in
accordance with JORC standards. In addition, he was the lead
engineer and participant of numerous studies and projects requiring
the compilation of independent Bankable Studies utilised to finance
small to large scale projects located worldwide. Mr. Young is
responsible for the content of this announcement.
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.
Enquiries:
Company Nomad and Broker Public Relations
Amur Minerals Corp. S.P. Angel Corporate Finance Blytheweigh
LLP
Robin Young CEO Richard Morrison Megan Ray
Adam Cowl Tim Blythe
+44 (0) 20 7138
+7 (4212) 75 56 15 +44 (0) 20 3470 0470 3204
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