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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.

Recovery abounds

Update | Mining | 07/03/2017

On 10 February, Amur announced a 50kt (or 6.8%) headline increase in contained resource nickel tonnes, but a 214kt (or 41.7%) underlying increase (ie at a constant cut-off grade). This follows the January announcement of metallurgical test results by Gipronickel on a c half tonne sample of ore from Maly Kurumkon-Flangovy. Over seven metals, average recoveries were 13.0% higher than those derived from earlier bench-scale tests. The results represent the first production-scale test work from the Kun-Manie licence area and, owing to their larger size, are expected to be more reflective of actual production processes.

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Stock data

Market cap.£27.7m
Last close4.240p
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 *(16.3)(9)(32.9)

* % Relative to local index

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