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.

Positive impacts to PFS?

Flash note | Mining | 13/03/2013

In its final exploration results for 2012, Amur has identified that Ikenskoe (one of the three deposits originally investigated as part of the SRK 2007 PFS) extends ‘at least 200m to 250m metres to the south’ of its previously drilled extents. Also, crucially for Kun-Manie, c 46% (56.1m) of mineralised intercepts from the 10 holes presented in these results exceeded 1% nickel. The average grade of the >1% nickel intercepts is 1.28% Ni and 0.29% Cu. Although not indicative of the entire resource, overall the nickel grades encountered in this suite of results are 0.89% Ni and 0.29% Cu, which is 85% and 107% higher respectively than the JORC-compliant resource dated 2007.

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Stock data

Market cap.£34.5m
Last close5.430p
High / Low (52 weeks)10.6p / 5.1p
Stock market listingLN
Forecast net cash (US$m)138
Forecast gearing ratio (%)N/A
TeamResources - Mining

Price performance

Relative *(20)(25)(49.8)

* % Relative to local index

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