Posting of Q&A ahead of EGM

75% of the votes cast at the EGM.

As noted in the RNS dated 11 June 2020, with the completion of the metallurgical results for the nickel and copper concentrates, as well as the receipt of non-binding indicative offtake terms which covers both concentrates (as well as the by-product metals  of platinum, palladium, gold, silver etc), the Company can now use this information for the calculation of reserves, cut-off grades, mine scheduling and the project economics. The ability to generate and market two concentrates can have a material impact on the reserves, cut-off grades etc. This work is currently underway.

As noted in the announcements made on the 1 June 2020 and 11 June 2020, progress on the TEO is proceeding, and on schedule. The Board and management are closely monitoring progress and the projected timings to completion. 

As a note - the Russian Federation subsoil law allows us to file for an extension should this be necessary. 

As noted in the RNS dated 2 December 2019, certain Directors and Executive Management participated in a subscription of shares in satisfaction of salaries and fees. The option to take shares in lieu of cash is open to all Directors and Executive Management. The Company must be in an open period for such grants of shares to be placed.

Please refer to the Notice of General Meeting, section 2, first paragraph:

"… opportunities such as mergers, acquisitions or investments which would benefit the Company's business. Such potential transactions include acquiring interests in revenue generating assets or financial instruments within the mining sector to provide the Company with a reliable source of income going forward, or where the Company will be able to add short to medium-term value"

Work completed to progress the TEO, as noted in the Company's announcement's throughout 2020, has resulted in:

·    Completion of the Base Line Environmental assessment

·    Completion of the Rock Mechanics assessment

·    Completion of Hydrological assessment

·    Completion of Crushing and Grinding metallurgical testwork defining comminution requirements

·    Completion of the generation of a bulk concentrate

·    Completion of the Copper Concentrate test work

Looking forward the following undertakings are underway:

·    Reserves calculation

·    Cut-off grade determination

·    Mine scheduling

·    Operating cost updates and adjustments to mine capital requirements

·    Project Economic assessment

As often discussed in many of Amur's presentations, the definition of a Non-Disclosure Agreement precludes the Company from discussing the existence or absence of any such NDA.

As noted in the Notice of General Meeting, section 2, second paragraph:

"The Board therefore wishes to seek shareholder approval for the authorities set out in the Notice of General Meeting, in order to move quickly to completion when any proposed merger, acquisition or investment is agreed and be in a position to utilise share authorities."