Amur Minerals up 50% on encouraging licence news

Shares in Russian explorer Amur Minerals jumped more than 50% after the Group said that it was confident that its mining licence application for the Kun-Manie nickel - copper project would be granted.

Three of the four external agencies included in the licence approval process have approved the application and it is anticipated that the fourth agency, the Ministry of Economic Development, will provide its affirmative input and approval in due course.

CEO Robin Young comments: "We are pleased to report that the mining application has advanced through the majority of the Russian Federation agencies responsible for the award of the mining licence. Everything is progressing positively."

The share price rose 2.63p to 7.75p - a leap of 51.2%.

Story provided by StockMarketWire.com

13/12/2010