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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.

Funding secured

Update | Mining | 29/07/2013

Amur has raised £5.2m by way of a subscription by new and existing shareholders for a total of 71.7m shares (17% of shares in issue) at 7.25p (a 6.5% discount to the previous close). Of this, £5.0m follows the pattern of previous equity swap agreements with Lanstead Partners, which have proved successful in continuing to fund Amur’s exploration of its growing Kun-Manie nickel resource while it progresses its mining licence to approval with the Russian authorities. As a result of a modified structure to this agreement, a £1m up-front payment is to be paid to Amur, which will comfortably fund at least its current Kubuk drill programme.

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Stock data

Market cap.£26.3m
Last close4.000p
High / Low (52 weeks)10.6p / 3.8p
Stock market listingLN
Forecast net cash (US$m)4.1
Forecast gearing ratio (%)N/A
TeamResources - Mining

Price performance

Relative *(15.5)(12.2)(36.7)

* % Relative to local index

Company news