Amur Minerals Corporation

AMC: 5.01 -0.30 (▼5.52%)

Delayed:2018-02-23 17:30:01
Bid Price 4.50 High Price 5.69
Ask Price 5.75 Low Price 5.00
Open Price 5.00 Spread 24.39%
Prev Close 5.13 Volume 1,855,082.00

Amur Minerals Corporation Share Price Chart


Historic - 1 year

Amur Minerals Corporation Share Price Information

Name Amur Minerals Corporation Epic AMC
Sector Mining ISIN VGG042401007
Activites Amur Minerals Corporation (AMC) is a rapidly-growing mineral resource exploration and development company focused on base metal projects located in the far east of Russia. The Company has three properties in the region with its principal asset being the Kun-Manie sulphide nickel, copper project located in Amur Oblast. With a JORC compliant resource of over a quarter of a million tons of contained nickel, Kun-Manie is one of the five largest new nickel sulphide discoveries since Voisey's Bay. Security Type Equity

Key numbers

Latest Share Price (p) 5.13 Net Gearing (%) -14.59
Market Cap (£m) 34.13 Gross Gearing (%) 13.09
Shares in issue (m) 634.43 Debt Ratio 0.64
P/E Ratio -4.89 Debt-to-Equity Ratio 0.04
Divs per share (p) 0.00 Assets / Equity Ratio 1.15
Dividend Yield (%) 0.00 Price to book value 1.33
Dividend Cover 0.00 SROCE (%) -22.26
Earning per share (p) -1.10 EPS Growth (%) -450.00
52-week high / low (p) 11.50 / 4.50 DPS Growth (%)

Amur Minerals Corporation Broker Views

Date Broker Rec. Price Old target price New target price Notes
07 Mar Beaufort Securities Hold 5.01 Retains
29 Sep SP Angel Hold 5.01 Reiterates
16 Sep SP Angel Hold 5.01 Reiterates
09 Sep SP Angel Hold 5.01 Reiterates
03 Sep SP Angel Hold 5.01 Reiterates

Amur Minerals Corporation Director Deals

Amur Minerals Corporation Company News

Amur Minerals secures convertible loan of up to US$10m

Amur Minerals Corporation said it secured a convertible loan of up to US$10m with Cuart Investments PCC Ltd and YA II PN Ltd to progress development of its Kun-Manie project.

The convertible loan of up to US$10 million consists of three advances with the initial advance of US$4 million to be drawn down by the Amur Minerals on Feb. 14.

Each advance is repayable in 12 monthly installments, at 110% of the principal portion of the repayment and its accrued interest, with the first repayment expected 13 March 2018.

Each advance would allow Cuart Investments and YA II PN to be issued with warrants to the value of 30% of the value of each advance at an exercise price which is at a 30% premium to the price of each advance. Each set of warrants will be exercisable for a period of 3 years.

At 9:17am: (LON:AMC) Amur Minerals Corporation share price was -0.47p at 6.06p

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Amur Minerals receives final quality control results for 2017 drill season at Kun-Manie

Amur Minerals Corporation, the nickel-copper sulphide mineral exploration and resource development company, announced it received the final quality assurance, quality control analytical results for its 2017 drill season at its Kun-Manie project.

The company said that with the possession of the original Alex Stewart Laboratory set of results and this critical final quality assurance, quality control analytical information, it has engaged RPM Global to undertake an update of the February 2017 Mineral Resource Estimate, or MRE, along the newly expanded mineralised zone.

The newly expanded mineralised zone has been increased from 1.4 kilometres in length to that of 3.6 kilometres, replacing the MRE's of Kenskoe and Sobolevsky, or IKEN, and Kubuk, or KUB. The Company said it anticipates a substantial increase to the MRE of February 2017.

Robin Young, CEO of Amur Minerals, said: 'With this milestone, we have engaged RPM Global to update the February 2017 Mineral Resource at Kun-Manie.'

'With drilling having confirmed mineralisation along over 3.6 kilometres of length where only 1.4 kilometres had been previously drill identified, we anticipate a substantial increase in the nickel copper resource of February 2017.'

'Going into the initiated RPM update, the area was defined to contain about 258,000 nickel tonnes or about a third of our global 770,000 tonne nickel resource inventory.'

At 9:27am: (LON:AMC) Amur Minerals Corporation share price was -0.03p at 7.27p

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Amur drill programme expands mineralisation

Amur Minerals Corporation said the 2017 drill programme at its Kun-Manie nickel-copper sulphide project in far east Russia had substantially increased the known length of the mineralisation.

The company said a total of 26,485.6 diamond drill cored metres (20,000 metres planned) within 107 total holes was completed at a record low cost of US$ 34.83 per metre.

It said the drilling had expanded the known mineralised strike length by an additional 2,250 metres to a total of 3,650 metres located at and between the Ikenskoe/Sobolevsky (IKEN) and Kubuk (KUB) deposits. It said the newly defined drill identified mineralisation was projected to be 22.4 metres in thickness and averages 0.80% nickel and 0.25% copper and it was anticipated that there would be a substantial increase in the planned early 2018 update to its JORC Mineral Resource Estimate last updated in February 2017.

Chief executive Robin Young said: 'The now complete and highly successful 2017 drill programme results have substantially increased the known length of the mineralisation within a quarter of the ore host Kurumkon Trend.

'An increase of approximately 180% in mineralised length from 1.4 kilometres to 3.6 kilometres has proven that the Ikenskoe / Sobolevsky and Kubuk deposits are part of a much larger deposit with the addition of the ISK orebody lying between the two greatly expanded deposits.

'The drill indicated grades for both nickel and copper are also higher than estimated within our February 2017 Mineral Resource Estimate by as much as 10% for nickel (averaging 0.80%) and 30% for copper (averaging 0.25%).

'This new drill information indicates this area could contain as much mineral as defined in Maly Kurumkon / Flangovy, presently our largest drill identified deposit.

'We are very optimistic that there will be a substantial increase in our global February 2017 Mineral Resource Estimate, already one of the largest undeveloped nickel copper sulphide projects in the world and what we believe to be the largest nickel sulphide deposit located in the vicinity of the three largest nickel consuming nations of China, Japan and Korea.'

At 9:11am: (LON:AMC) Amur Minerals Corporation share price was +0.18p at 7.5p

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Amur schedules AGM

Amur Minerals Corporation will hold its annual general meeting at the offices of Fieldfisher LLP, Riverbank House, 2 Swan Lane, London EC4R 3TT, on 17 Nov at 3:00 p.m.

At 9:57am: (LON:AMC) Amur Minerals Corporation share price was +0.22p at 7.96p

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Amur encouraged by Kun-Manie open pit potential

Amur Minerals Corporation has issued an update of the open pit mining potential from the four drill defined deposits at its Kun-Manie project in the Russian Far East.

Amur said this first set of results allowed it to assess the project's economic potential as an open pit only operation.

Amur said it would carry out a further evaluation of these results to determine the potential to mine additional ores by underground production methods in areas adjacent to and below the open pits.

It said the primary area of interest was the Maly Kurumkon/Flangovy (MKF) deposit where previous study work had identified the deposit was well suited for both open pit and underground production.

Chief executive Robin Young said: 'We are pleased to provide the initial results of the mining potential at Kun-Manie.

'Whilst Amur is looking at both open pit and underground mining production, this evaluation of an exclusive open pit mining assessment has included and consolidated an abundance of newly acquired information since our last report on mining potential in 2015.

'With new resource models from February 2017, a Prefeasibility Study identifying a more definitive mining approach for underground ore mining is being updated.

'This will include the available independently reviewed operating costs, additional metallurgical recovery information and a comprehensive review of all preceding results.

'Having determined that nearly 77% of our resource falls within four open pits, we can assess the economic potential of the exclusive open pit option and can now move forward to establish the underground mining potential.

'A key consideration in this assessment is to maximise the operating profit per ore tonne.

'It is likely that portions of the open pit ores may be more profitably mined by underground methods and we may also be able to recover ores that do not fall within the currently defined pit limits.

'The current results are encouraging and we note that the outcome of these results exclude all of the newly discovered ore from this year's drill programme where we may have doubled the resource at both Ikenskoe/Sobolevsky and Kubuk and identified a near continuous zone of mineralisation along the three kilometre long zone linking the two deposits together.'

At 9:32am: (LON:AMC) Amur Minerals Corporation share price was +0.1p at 8.25p

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