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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.

In from the cold

Initiation | Mining | 22/07/2015

Kun-Manie is among the 20 largest nickel sulphide deposits in the world and the award of a production licence this year (until 2035) allows Amur Minerals (AMC) to shift its strategy from one of exploration to one of preproduction. A pre-feasibility study on the project was completed by SRK in 2007 and envisaged a 4.0Mtpa operation. However, this has now been superseded by subsequent technical work, with the result that Amur now envisages a 6.0Mtpa operation producing over 15 years, together with an owner-operated smelter in lieu of the earlier toll smelting strategy.

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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

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