Featuring Amur Minerals (AMC), Ariana Resources (AAU), Egdon Resources (EDR), Goldstone Resources (GRL)
While shares of Amur Minerals were recently given the Bulletin Board Heroes treatment, a material change in the technical perspective means that it seems worthwhile revisiting this in a more detailed way as the Bull Call Of The Day.
Amur Minerals (AMC) has had a fantastic run recently, but now is the time to at least bank some profit.
Shares in Amur Minerals Corporation (AMC) have doubled in a morning on news that Russian Prime Minister Dmitry Medvedev has approved the grant of a ‘detailed exploration and mine production licence’ for the company’s 830,000-tonne Kun-Manie nickel and copper project in Russia’s Far East. Highlighted here last August at a depressed 2.98p, Amur shares surged 10.5p to 20.5p on this development, which entrepreneurial chief executive Robin Young says could lead to initial production in four years.
John Meyer of SP Angel this morning comments on Amur Minerals, Anglo American, Armadale Capital, Bacanora & W Resources as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
John Meyer of SP Angel this morning comments on Amur Minerals, Eurasia Mining, Randgold Resources and Mariana Resources as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
In an (almost) bullish mood today, John Meyer of SP Angel this morning comments on Solgold, Patagonia Gold, Amur Mining and Caledonia Mining as well as a detailed macro view on the news that is shaping global mining and the AIM mining pond.
One western entrepreneur for whom there are compensations in Russian President Vladimir Putin’s forward policy in Ukraine is Robin Young, chief executive officer of AIM-quoted nickel play Amur Minerals (AMC). His company is expected shortly to produce significantly increased reserve figures for its Kun Manie project in Far East Russia, near the Chinese border. Political uncertainties and investors’ impatience have contributed to the fall in Amur’s shares. At 2.98p these are well off their 12-month high of 8.5p and a mortifying 90 per cent down from their 2006 float price of 33p, but the fall in the Russian rouble prompted by the Ukraine crisis has at least cut the estimated cost of securing a long-awaited production licence from $818,000 (£481,000) to $655,000.
If you are risk averse then Amur Minerals (AMC) definitely isn’t the share for you, but it could offer large rewards for anyone taking the gamble. On paper it is hard to see why, at 4.33p, it is trading at a market cap of just over £16 million, given the stage it is at in terms of exploiting its assets, and when compared to its peers.
Amur Minerals (AMC) has recently raised £5.2 million by way of a subscription by new and existing shareholders for a total of 71.7 million shares (17% of the shares in issue) at 7.25p (a 6.5% discount to the previous close). This secures it near term funding needs and thus offers massive upside according to commissioned researchers Edison.
What can be seen on the daily chart of Amur Minerals (AMC) is the way that the latest 3.35 million shares purchase announcement comes after what has been a constructive build to the price action for several months. While we are probably not looking at an overnight sensation, it would appear that over the summer the stock will head back to the levels seen in 2011.
Amur has started its 2013 drill programme at the Kun-Manie Ni-Cu project, focusing on a 2.5km-long deposit called Kubuk. Geophysical and trenching (past results = c 50m horizontal length grading 0.63% Ni and 0.16% Cu) studies suggest all the hallmarks of a strongly mineralised region of the exploration licence; and one that could materially change the size and shape of Kun-Manie’s mine plan.
One of the qualities required in equities trading is patience, a quality that I have yet to acquire.
