Search Follow us

Amur Minerals (AMC)

Business description

Amur Minerals is an exploration and development company focused on base metal projects in Russia’s far east. Its principal asset is the Kun-Manie nickel sulphide deposit, comprising over 1.5Mt of contained nickel equivalent in at least five deposits.

Stock data

Market cap.£26.9m
Last close3.97p
High / Low (52 weeks)8.2p / 3.8p
Stock market listingLN
Forecast net cash (US$m)4.1
Forecast gearing ratio (%)N/A
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual(3.8)(6.7)(50.7)
Relative *0.71.9(47.2)

* % Relative to local index

Other companies in sector Show

AEX Gold Afferro Mining
Afri-Can Marine Minerals African Barrick Gold
African Eagle Resources African Minerals
Alabama Graphite Alderon Iron Ore
Aldridge Minerals Alkane Resources
All Star Minerals Allied Gold Mining
Almonty Industries Altius Minerals
Altona Energy Amara Mining
Amerigo Resources Angel Mining
Anglesey Mining Anglo Pacific Group
Antofagasta Aquarius Platinum
Arian Silver Ariana Resources
Asa Resource Aspire Mining
Atalaya Mining Atlantic Gold NL
Aurcana Corporation Aureus Mining
Auriant Mining Aurizon Mines
Avalon Rare Metals Avnel Gold Mining
Baobab Resources BCI Minerals
Bear Creek Mining Bellzone Mining
Bezant Resources Blackthorn Resources
Bushveld Minerals Cabral Resources
Cadence Minerals Caledon Resources
Caledonia Mining Cameco
Canada Lithium Corporation Carpathian Gold
Celamin Holdings Central Asia Metals
Centrex Metals Champion Iron
Chatham Rock Phosphate Chieftain Metals
Coal of Africa Condor Gold
Continental Coal Cradle Resources
Dalradian Resources Danakali
Denison Mines Discovery Metals
Doray Minerals DRDGOLD
Duluth Metals Eastern Platinum
ECR Minerals Edgewater Exploration
Element ASA Endeavour Mining
Energy Fuels Entree Resources
Equatorial Resources Euromax Resources
European Goldfields Forsys Metals Corp
Freegold Ventures Fronteer Gold
Frontier Mining Frontline Gold
Galane Gold Galaxy Resources
Gascoyne Resources Gemfields
GMA Resources Gold One
Gold Road Resources Gold Sector Report
Goldcrest Resources Golden Minerals Company
Goldplat Graphite Sector Report
Gunson Resources Hambledon Mining
Hecla Highland Gold
Highlands Pacific Hummingbird Resources
Ichor Coal International Mining & Infrastructure Corp
Iron Road Ironwood Gold
Jameson Resources KEFI Minerals
Kenmare Resources Kingsgate
Kinross Gold Corporation Kopy Goldfields
Lemur Resources Lepidico
Lithium Americas Corp Lithium X Energy
London Mining MacPhersons Resources
Majestic Gold Mandalay Resources Corp
Mariana Resources Matamec Explorations
MDM Engineering Group Medusa Mining
Metallica Minerals Metals Exploration
Minera IRL Mineral Commodities
Minotaur Exploration Mkango Resources
MMG Mustang Resources
Natural Resource Partners Ncondezi Energy
Nevsun Resources New Talisman Gold Mines
Nkwe Platinum Nordgold
Northern Dynasty Minerals Norton Gold Fields
NovaCopper OceanaGold
Oracle Coalfields Orbis Gold
Ormonde Mining Orosur Mining
Orpheus Energy Pan African Resources
Pan American Goldfields Papillon Resources
Pasinex Resources Petropavlovsk
Pilot Gold Platmin
PolyMet Mining Polymetals Mining
Randgold Resources Rare Element Resources
Red Rock Resources Regency Mines
Richmont Mines Rio Tinto
Robust Resources Rock Tech Lithium
Rutila Resources Sable Mining
Seabridge Gold Shore Gold
Sirius Minerals South American Silver Corp
St George Mining Sumatra Copper & Gold
Syndicated Metals Teck Resources
Tiger Resources Titanium Resources Group
Torex Gold Triton Minerals
True North Gems U3O8 Holdings
Universal Coal Vatukoula Gold Mines
Veris Gold Corp Victoria Gold
Volt Resources W Resources
Western Areas Wheaton Precious Metals
Wits Gold Wolf Minerals
Woulfe Mining Zanaga Iron Ore Company
Zazu Metals Corporation

Company news

Investment summary

In Q118, Amur reported that its 2017 drill programme increased its resource at Kun-Manie by 50%, to 1.58Mt NiE at a grade of 1.02% NiE. Significantly, the increase was achieved at a cost of US$30.87/t contained nickel cf Amur's resource multiple immediately prior to the upgrade of US$51.36/t. The increase means that Kun-Manie now ranks fourth among the world's greenfield nickel sulphide deposits which contain a minimum of 1.0 million nickel tonnes having at least an average nickel grade of 0.4%. This information provides important input into an ongoing PFS under update at this time.

Last updated on 28/09/2018

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 (1.9) (1.8) (0.3) N/A N/A
2018E 0.0 (3.8) (3.7) (0.2) N/A N/A

Last updated on 23/09/2018

Latest research

Cobalt-plated nickel

Outlook | Mining | 16/04/2018

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

Latest video

Executive Interview - Amur Minerals

Industry outlook

Based on new assumptions incorporating a higher percentage of underground mining for longer, we calculate fully diluted (at 4.4p/share) values for concentrate sales (toll smelting), low-grade matte, high-grade matte and refined metal project options of 15 US cents, 27c, 26c and 46c, respectively, at a nickel price of US$7.50/lb. If developed incrementally over five years, we value it at 26c per share. Internal estimates also project that Kun-Manie will be one of the ten lowest cost producers of class 1 nickel in the world, with C1 cash costs in the range US$2.61-2.77/lb Ni.

Last updated on 28/09/2018

Key management

Robert Schafer, Chairman
Robin J Young, CEO

Company address

14 Gaidar Street
Office 9
Khabarovsk
680063
Russian Federation
View website