- Mineral exploration and resource development company Amur Minerals said it had sold its subsidiary Carlo Holdings for about US$6.1 million in cash.

The company 'intends to use the sale proceeds to fund the continued development of the far eastern located Kun-Manie nickel copper sulphide project and general working capital, as well as providing a cash reserve with which to consider investment opportunities,' Amur said.

The sale represented a profit of US$1.47 million when set against its original investment.

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