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.£37.2m
Last close6.08p
High / Low (52 weeks)15.2p / 2.4p
Stock market listingLN
Forecast net cash (US$m)9.3
Forecast gearing ratio (%)N/A
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual1.7(1.1)54.8
Relative *1.5(5.5)37.7

* % Relative to local index

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Company news

Amur Minerals confident as consultants show Kun-Manie as low-cost

Mon, 17 Jul 2017 12:04:46 GMT

Amur Minerals gives update on Kun-Manie drill programme

Tue, 20 Jun 2017 07:07:08 GMT

Amur Minerals appoints corporate advisor to assist in financing of Kun-Marie ...

Mon, 03 Jul 2017 07:10:25 GMT

Amur Minerals share price 'unlikely to drop below 6p', says Zak Mir

Mon, 13 Mar 2017 09:28:15 GMT

Amur Minerals says independent costs review makes progress

Wed, 10 May 2017 07:58:31 GMT

Investment summary

The 2017 field season started early and is currently running ahead of schedule with a view to further upgrading resources, while RPM is updating the project's cost estimates. Earlier this year, Amur announced a 214kt (or 41.7%) underlying increase in contained nickel tonnes at Kun-Manie, to 790kt Ni, or 1.1Mt Ni equivalent, at a constant 0.4% Ni cut-off grade. The upgrade follows the announcement of positive bulk sample metallurgical test results by Gipronickel.

Last updated on 03/07/2017

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2014A 0.0 (2.4) (2.5) (0.6) N/A N/A
2015A 0.0 (4.1) (1.9) (0.4) N/A N/A
2016E 0.0 (4.1) (4.0) (0.8) N/A N/A
2017E 0.0 (4.1) (4.0) (0.3) N/A N/A

Last updated on 22/06/2017

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 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 (at a 9p share price and assuming 80% financial leverage). However, this could increase if the mine plan is reconfigured to advance and increase high-grade underground production (as seems likely). Updated estimates also imply a potential c US$150m capex saving in the cost of Amur's access road.

Last updated on 03/07/2017

Key management

Robert Schafer, Chairman
Robin J Young, CEO

Company address

14 Gaidar Street
Office 9
Khabarovsk
680063
Russian Federation
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