Amur Minerals Corporation (LSE:AMC) operates as a cash shell company listed on the AIM market of the London Stock Exchange, following the divestment of its prior mineral exploration assets. The company, founded in 2006 and headquartered in Road Town, British Virgin Islands, previously focused on the exploration and development of nickel, copper, cobalt, platinum group metals including palladium, and precious metals such as gold and silver deposits in Russia's Far East region, primarily through its principal asset, the Kun-Manie nickel-copper sulphide project located in Amur Oblast. Its historical operations encompassed locating, evaluating, acquiring, exploring, and developing mineral properties, with drill-defined resources across five deposits suitable for open-pit and underground mining, processed via classic flotation methods.
In March 2023, the company completed the disposal of its wholly-owned Russian subsidiary AO Kun-Manie to Bering Metals LLC for US$35 million, marking a fundamental shift away from Russian-based mining assets amid geopolitical considerations and sanctions; proceeds supported a special dividend declaration in May 2023. Subsequently, trading was suspended in September 2023 under AIM Rule 15 as a cash shell, with cessation of discussions for potential transactions such as with Ascent Resources plc in August 2023. In May 2024, Amur Minerals announced a proposed reverse takeover of Extruded Pharmaceuticals Ltd (EPL), a clinical-stage drug delivery technology firm developing ChemoSeed—an implantable device for localized chemotherapy treatment of solid tumors including high-grade gliomas—with plans for a Phase II clinical trial in Q4 2025; the transaction included shareholder approval at the AGM and GM on 29 May 2024, readmission to trading on 31 May 2024, a one-for-160 share consolidation, board overhaul, and name change considerations, positioning the company for entry into the biotechnology sector targeting unmet needs in oncology.