According to SRK?s figures published in January, the value of Amur?s Kun-Manie project now stands at US$90 to US$110 million, versus US$60 to US$80 million at admission a year ago. This is a 43% increase, achieved in just a single field season. The valuation is based on $5.80/lb nickel and $1.40/lb copper, prices which are way below those currently achievable in the spot market, and is heavily discounted to between 2-4% of the value of the in-situ resource.
Surprising, as this nickel-copper explorer/developer had little difficulty raising the £3.2 million it required on listing, and nickel and copper are in a distinct, if occasionally erratic, price uptrend and nickel inventories are tumbling. Major shareholders, led by RAB Special Situations with 11.6%. hold some 72% of the shares.