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Asian Mineral Resources (TSXV: ASN) Surpasses production and sales targets for the 2nd quarter of 2015

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Asian Mineral Resources, symbol AMR on the TSX Venture Exchange, and one of the few new global sources of nickel sulphite, has surpassed production and sales targets for the 2nd quarter of 2015. The company commenced commercial production from its Ban Phuc nickel project, located 160 kilometres west of Hanoi, Vietnam in mid-2013.

Additional Information:

Company: Asian Mineral Resources
Website: http://www.asianmineralres.com/
Stock Symbol: TSXV: ASN
Date Published: Jul 20, 2015
Transcript: Available

Video Transcript:

I’m Amanda Rose Schellenberg for Investmentpitch Media

Asian Mineral Resources, symbol AMR on the TSX Venture Exchange, and one of the few new global sources of nickel sulphite, has surpassed production and sales targets for the 2nd quarter of 2015.

The company commenced commercial production from its Ban Phuc nickel project, located 160 kilometres west of Hanoi, Vietnam in mid-2013.

Highlights for the 2nd quarter include:
- 2,342 tonnes of nickel milled production
- 1,035 tonnes of copper milled production, and
- 21,489 tonnes of dry concentrate sold

Mill recoveries of 86.8% nickel and 93.9% copper continued to exceed targets.

The company realized an average nickel price of US$5.71 per pound during the quarter, with C1 operating cash costs, net of by-product credits and inclusive of all royalties and tariffs at US$4.55 per pound.

The exploration license covers 49.7 square kilometres, with field mapping, trenching and soil sampling identifying 12 high priority targets to date.

Evan Spencer, CEO, stated: “AMR's strong operational performance and cash flow generation have underpinned the business during this low nickel pricing environment. During the quarter, we repaid a further US$2 million in debt and completed all scheduled capital works, which will facilitate further cost reductions during H2 2016. With this low cost, high-grade production firmly established, we are now able to focus on our numerous near-mine, high-grade exploration targets.”

The company maintains a strong cash and trade receivables position of US$9.8 million as at June 30, 2015.

For more information, please visit the company’s website www.asianmineralres.com or email info@asianminres.com.

I’m Amanda Rose Schellenberg for Investmentpitch Media
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