RE:Unfortunate for a promising companyMac, I am no fan of Vladimir Putin but the fact is that the Russian Federation are bending over backwards to help the mining industry at the moment, particularly in the region which EUU are now buying into. Take a look at this news release for one of the UK based companies I am invested in today and you will see what I mean:
https://www.iii.co.uk/research/LSE:AMC/news/item/1865758/heads-terms-development-fund?context=LSE:AMC
The company's CEO made the following comment: ""Since entering into the fund raising mandate with the Far East and Baikal Development Fund in August 2015, we have been working closely with the Fund to increase the value and viability of the Kun-Manie project by the creation of a private public partnership specific to the infrastructure development on one of the largest nickel suphide projects in the world. By successfully working together, the development of Kun-Manie as a mine and the construction of a smelting facility along one of the two main east - west rail lines across Russia will have a substantial positive impact on the social and economic well-being of the Oblast of Amur and its neighboring states in the Russian Far East. This could well lead to the development of an industrial hub wherein Amur Minerals would have a leading role. Amur and the Fund will endeavour to agree binding terms providing for developing a federal funding plan to defray the cost of infrastructure development."