Amur Minerals Share Discussion Threads

[qui quaerit reperit] 22/3/2019 07:40

This is the best bit - "I look forward to providing a more in depth perspective of the strategic partnering plan in the very near future"I don't care about anything else.

[bigsi2] 22/3/2019 07:33

Those are the best bits?paltry 20% premium in exercise price.and nothing but maybe something (undefined) in the near (undefined) future

[duxy786] 22/3/2019 07:33

Shorters are going to get crucified now

[qui quaerit reperit] 22/3/2019 07:31

Because we don't need it anymore:)

[qui quaerit reperit] 22/3/2019 07:30

Yes buddy - exactly as expected - we do have a partner to develop Kun Magnier!!!:)

[duxy786] 22/3/2019 07:29

Very much do. A single partner announcement is what I expect RY to announce very soon

[s0lis] 22/3/2019 07:28

No mention of a BFS ??? I wonder why ????

[roofer2] 22/3/2019 07:25

Oh putting a brave face on yet more share finance issues just to pay wages, hundreds of millions to flood the market yet again, any wonder AMC has fallen to 2.5p, 1p is coming faster than I thought the
Rampers can’t stop this now
Imo

R2

[qui quaerit reperit] 22/3/2019 07:23

Yeah the concern can now be removed from accounts!

[duxy786] 22/3/2019 07:19

The terms are in our favour. It does not help anyone with the share price below where it currently is. Not even Riverfort.The best bits...."....at an exercise price of 3.76 pence per share, representing a premium of approximately 25% to the closing price."And"I look forward to providing a more in depth perspective of the strategic partnering plan in the very near future." 

[qui quaerit reperit] 22/3/2019 07:19

, (to the extent not having been converted into new ordinary shares)

[crazytowner] 22/3/2019 07:18

Agreed, no problem with this and sticking with Riverfort.The low additional cash seems to be in line with seeing us through to a strategic partner / sale

[bigsi2] 22/3/2019 07:17

Dilution - that's understandable?

[qui quaerit reperit] 22/3/2019 07:14

Under the restructured Convertible Loan the outstanding US$1.2 million is repayable in 12 monthly installments, at 110 per cent of the principal portion of the repayment and its accrued interest, (to the extent not having been converted into new ordinary shares) with the first repayment in respect of the initial advance becoming due on 20 March 2020.Can someone explain in English please?

[patio58] 22/3/2019 07:13

No problem with deal whatsoever.

[inaminute] 22/3/2019 07:10

"I look forward to providing a more in depth perspective of the strategic partnering plan in the very near future."Looking forward to seeing that

[easwarareddy] 22/3/2019 07:08

Seems like we had the upper hand and set our own terms reading this. Much stronger position dictating our own terms.

[ciao4niao] 22/3/2019 07:06

"22 March 2018

AMUR MINERALS CORPORATION

(AIM: AMC)

Loan restructuring and further advance

Amur Minerals Corporation ("Amur" or the "Company"), a nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, is pleased to announce that it has extended the maturity date on the convertible loan facility (the "Convertible Loan") entered into with Riverfort Global Opportunities PCC Limited and YA II PN Ltd (the "Investors") on 13 February 2018, in an investment consortium arranged by RiverFort Global Capital Ltd., and undertaken a further advance.

Highlights:

-- The Convertible Loan of up to US$10 million (of which US$1.2 million has been drawn down and remains outstanding) will have its maturity date extended to 20 March 2020.

-- A further advance of US$500,000 (net of an implementation fee which will also be drawn down and immediately paid to the Investors) will be immediately drawn down by the Company.

-- In conjunction with the extension of the maturity date and the further advance, the Investors will be issued with 10,902,956 warrants to subscribe for shares in the Company at an exercise price of 3.76 pence per share, representing a premium of approximately 25% to the closing mid-market price on 21 March 2019. The warrants will be exercisable for a period of three years.

Restructure and Further Advance

Under the restructured Convertible Loan the maturity date of the US$1.2 million still remaining will be extended to 20 March 2020. A further advance of US$500,000 (net of an implementation fee which will also be drawn down and immediately paid to the Investors) will be made to the Company with a maturity date of 20 March 2020. In addition to this, the Company will issue the Investors with 10,902,956 warrants with an exercise price of 3.76 pence.

Use of Funds

The net proceeds of the further advance will be used by the Company to progress the development of the Company's Kun-Manie project including:

1. Updating the resource statement and reserve inventory for subsequent development of a longer life optimised production schedule

2. Updating the current economic model and the Pre-Feasibility Study ("PFS") where appropriate by inclusion of any newly acquired technical data, cost information and additional metallurgical test work

3. General and administrative requirements
Robin Young, CEO of Amur Minerals Corporation, commented:

"The convertible loan has allowed Amur to complete its PFS, which was a major milestone for the Company, as well as undertake a significant drill programme, carried out in the 2018 drilling season. This drill programme produced significant results, including the potential to materially increase the Company's resources and reserve inventory. Expansion of the resource and reserve will enhance the reported PFS results through an expansion of the mine life and optimisation of the production schedule.

"Following this loan reorganisation and the further advance of US$500,000, the Company is in a strong position to continue development and implementation of its Asia centric strategic plan outlined in November of last year. As the Company advances its focus in Asia and more aggressively progresses its detailed strategy for advancement of the Kun-Manie nickel sulphide project, we anticipate delivery of further value to shareholders. The continued support of Riverfort Global Capital LTD will assist us in achievement of our continued development in conjunction with the anticipated growth along-side the expanding Electric Vehicle market.

"I look forward to providing a more in depth perspective of the strategic partnering plan in the very near future."

Overview of the Loan and Warrant Agreements

The Investors will extend the maturity on the outstanding US$1.2 million of the 12 month Convertible Loan entered into on 13 February 2018 to 11 April 2020. Additionally, the Investors will provide a further advance of US$500,000 (net of an implementation fee which will also be drawn down and immediately paid to the Investors) which will be drawn tomorrow.

Under the restructured Convertible Loan the outstanding US$1.2 million is repayable in 12 monthly installments, at 110 per cent of the principal portion of the repayment and its accrued interest, (to the extent not having been converted into new ordinary shares) with the first repayment in respect of the initial advance becoming due on 20 March 2020.

The further advance of US$500,000 (net of an implementation fee which will also be drawn down and immediately paid to the Investors) is repayable in 12 monthly installments, at 110 per cent of the principal portion of the repayment and its accrued interest, (to the extent not having been converted into new ordinary shares) with the first repayment in respect of the initial advance becoming due on 20 March 2020.

As well as the net amount of the advance, the Company is also drawing down the amount of the implementation fee payable in respect of the new drawdown and extending the maturity date of the original facility, which will be immediately paid to the Investors. Such sum, together with a brokerage commission payable to share price Angel Corporate Finance LLP in respect of the transaction amounts to US$147,000.

If the Company elects not to make a repayment of an installment, the Investors can elect to convert the installment into new ordinary shares in the Company at any time after the date the installment was due. The Investors shall not convert more than 50 per cent of the original principal amount of an advance in any three month period without consent of the Company.

A Reference Price ("Reference Price") will be calculated equal to the average VWAP of the 20 trading days immediately prior to the date of the further advance. Where the Company has elected not to repay an installment and the Investors have elected to convert, the conversion price will be the lower of 130 per cent of the Reference Price (the "Fixed Conversion Price"), and 90 per cent of the lowest daily VWAP over the five trading days immediately prior to conversion. The Investors shall have the right to convert each advance at any time at the Fixed Conversion Price.

Warrants over 10,902,956 new ordinary shares at an exercise price of 3.76 pence will be issued to the Investors. The warrants will be exercisable for a period of three years.

At no time during the term of the Convertible Loan or the warrant agreement will the Investors be able to convert to new ordinary shares or exercise warrants if doing so would result in the Investors having an interest in the issued ordinary share capital of the Company greater than 24.9 per cent in aggregate.

The Company, at its option, shall have the right to redeem the outstanding amount of an advance, in full or in part, at any time prior to the 12 month anniversary of the advance, provided that as of the date of the redemption notice the VWAP has been less than the Fixed Conversion Price for the previous five trading days. Amur shall pay an amount equal to 110 per cent of the principal portion of the amount being redeemed, together with all accrued and unpaid interest.

[duxy786] 22/3/2019 07:01

If we didn't have grades, we would be strategic. We wouldn't be an asset talked about is all the press, forums and talks with major stakeholders in the region. Ignore roofer and fiends. Its just noise. When this re-read, they won't be around just like they weren't on new years eve when it went up like a rocket.

[roofer2] 22/3/2019 06:56

It’s big sell off Friday, the graph doesn’t lie but the rampers do, shouts of £1 by idiots are way off the mark, the crash towards 1p is more realistic, the $1 billion needed to fund this project ( if it ever progresses) will not come cheap and at the end of the day can the Russians ever be trusted? Well them with Alzheimer’s it’s a big fat NO
Imo

R2

[qui quaerit reperit] 21/3/2019 23:56

Lol did the clownmaster bought in? Can't see that creature comments and don't want to see...am I right yesterday's purchase of 1064 shares was clownmasters? huge top up?

[inaminute] 21/3/2019 22:49

With respect, you're indulging him/her. That's what they want, it gives them oxygen and clogs up the Board. The same ones who said we'd never get the licences, Russia would never allow ownership, we didn't have grades, we wouldn't be economic ...I don't know what it said but I can guess from your response. You've given a polite factual response which I doubt they'll even read before spouting the next line from their list.

[crazytowner] 21/3/2019 22:40

Schachmeister, you whining about Riverfort financing being a death spiral is as false now as it was when you were posting about it 20 times a day previously.The 2 drops of the shareprice occurred when the agreement were entered into and when the going concern statement was made in the accounts, this was simply from holders that were spooked and traders exiting, otherwise Riverfort have been selling into the market extremely passively with no desire to damage the share price. I believe that Riverfort and AMC have a good relationship and if they need to go back for a little more to see through the sales phase, I'm perfectly fine with that, as I suspect most holders will be. I'm sure traders will make noise, with the bad traders making the most. Thankfully you won't be getting involved as just a few days ago you were posting this won't even get taken over for 1p per share.

[schachmeister] 21/3/2019 21:03

Ary...My Troops are always ready to be deployed in all four corners of the earth.I currently have significant forces deployed in the Falklands & Utah - whilst a small reconnaissance unit has been deployed to the Far Eastern front to establish a bridgehead for the main body,should the order to mobilize be given !