Amur Minerals expects to upgrade resource at Kun-Manie in Russian study

Amur Minerals Corporation PLC (LON:AMC) will include mandatory work carried out for the Russian authorities in its Kun-Manie definitive feasibility study.

Completion and submission of the mandatory Russian study, known as a TEO Reserve Estimation programme, is due by 1 December 2020.

A majority of the TEO work will be used in the compilation of the DFS, said Robin Young, Amur’s chief executive. 

The TEO will include the delineation of the project’s operational plan and derivation of the State Committee on Reserves (GKZ) approved reserves. 

Moscow-based firm Oreol is compiling the TEO and GKZ approved reserves and are likely to see to a ‘considerable increase in the resource and reserve inventory due to the newly discovered mineralisation identified during the 2018 field season’. 

Final GKZ Reserve and JORC Resource estimates are now being compiled and the company is’fully focused on compiling the Permanent Conditions TEO,’ Young added.

Story by ProactiveInvestors