Amur Minerals (AMC)

Business description

Amur Minerals is an exploration and development company focused on base metal projects in Russia’s far east. The company’s principal asset is the Kun-Manie nickel sulphide deposit in the Amur Oblast, comprising almost 1Mt of contained nickel equivalent in at least five deposits.

Stock data

Market cap.£49.2m
Last close7.75p
High / Low (52 weeks)15.2p / 2.5p
Stock market listingLN
Forecast net cash (US$m)138
Forecast gearing ratio (%)N/A
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual(10.82)27.15216.33
Relative *(13.69)25.32192.42

* % Relative to local index

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Company news

Amur Minerals encouraged by latest findings for Kun-Manie open pit proposals

Wed, 18 Oct 2017 07:25:43 GMT

Amur Minerals 'in the right place, at the right time with the right commodity'

Thu, 19 Oct 2017 12:56:15 GMT

Proactive News Summary: Sirius Minerals, Galantas Gold, Amur Minerals, Rainbow ...

Sat, 30 Sep 2017 07:33:23 GMT

Amur Minerals looking at a material increase to current resource at Kun-Manie

Tue, 26 Sep 2017 11:15:38 GMT

Amur anticipates sizeable increase in nickel resource at Kun-Manie

Mon, 25 Sep 2017 06:57:26 GMT

Investment summary

Amur's current field season (which is running ahead of schedule) has two main aims: 1) to upgrade Inferred resources to Indicated, and 2) to prove continuity between Ikenskoe and Kubuk. In February, Amur announced a 214kt (or 41.7%) underlying increase in contained nickel tonnes at Kun-Manie, to 790kt Ni (or 1.1Mt NiE). The upgrade followed positive bulk sample metallurgical test results by Gipronickel. In the meantime, RPM has found the cost of delivering concentrate to the Ulak rail station to be c 8% lower than Amur’s Q115 estimate.

Last updated on 03/10/2017

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2015A 0.0 (4.1) (1.9) (0.4) N/A N/A
2016A 0.0 (3.8) (3.8) (0.7) N/A N/A
2017E 0.0 (3.8) (3.6) (0.3) N/A N/A
2018E N/A N/A N/A N/A N/A N/A

Last updated on 19/09/2017

Latest research

Recovery abounds

Update | Mining | 07/03/2017

Proving resourceful

Update | Mining | 24/05/2016

Grist to the mill

Update | Mining | 09/05/2016

Financing to FEED

Update | Mining | 25/01/2016

Drilling suggests larger, higher-grade resource

Update | Mining | 08/12/2015

In from the cold

Initiation | Mining | 22/07/2015

Kun-Manie keeps on growing

Outlook | Mining | 08/10/2013

Funding secured

Update | Mining | 29/07/2013

Kubuk drilling could redefine Kun-Manie

Flash note | Mining | 13/06/2013

Positive impacts to PFS?

Flash note | Mining | 13/03/2013

Linking up deposits

Flash note | Mining | 15/02/2013

A step change in scale possible?

Update | Mining | 03/01/2013

Latest video

Executive Interview - Amur Minerals

Industry outlook

Based on the existing operational blueprint, we calculate fully diluted (at 9p/sh) values for concentrate sales (toll smelting), low-grade matte, high-grade matte and refined metal project options of 39 US cents, 51c, 41c and 50c, respectively. However, this is likely to increase if the mine plan is reconfigured to advance and increase high-grade underground production. Updated estimates also imply a potential c US$150m capex saving re Amur's access road.

Last updated on 03/10/2017

Key management

Robert Schafer, Chairman
Robin J Young, CEO

Company address

14 Gaidar Street
Office 9
Khabarovsk
680063
Russian Federation
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