Home Financial Markets Penny Stocks What Caused Amur Minerals Corporation (AMMCF) To Jump By 38%? – Here...

What Caused Amur Minerals Corporation (AMMCF) To Jump By 38%? – Here Is The Reason

Having closed up 38.67 percent at $0.0340 on Tuesday, Amur Minerals Corporation (OTC: AMMCF) has been trading within a day range of $0.0260 and $0.0358. With over 521.04K shares exchanged during the month, shares of AMMCF soared over 19.72% last month. The stock drops over -32.00% in the past three months, with an average volume approaching 275.21K. The last 12-month gain of 35.46%, coupled with the highest price of $0.0540 in that period, gave the stock a current market cap of $6.82 million.

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How the company operates?


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The company and its subsidiaries locate, evaluate, acquire, explore, and develop mineral exploration and development properties and projects in the Far East of Russia. Among the metals, the company explores for are nickel, copper, cobalt, platinum, palladium, gold, and silver. A substantial amount of the company’s assets are the Kun-Manie nickel copper sulfide project, which occupies a 36 square kilometer area in Amur Oblast. The company was founded in 2004, and it operates from Road Town, British Virgin Islands.

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Recent Developments:

  • It was announced last week that the Company had amended and registered with state licensing agency Rosnedra its “Detailed Exploration and Mine Production Licence” (DEMP) for its Kun-Manie Project.
  • The Agency received certification for the modification to DEMP on 4 February 2021 which was effective 30 November 2020.

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  • A separate announcement also from last week mentioned that Amur had received US$164,768 of interest payment from the Q4 2020 investment based on the US$ 4.67 million Convertible Loan Note (“CLN”) for the project of the Northern Territory, Australia Roper Bar Iron Ore Mine.

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