Proactive Investors - Run By Investors For Investors

Amur Minerals reports 78% increase in projected underlying earnings for Kun-Manie project

The AIM-listed firm said the projected EBITDA has increased to US$2.7bn, up from US$1.6bn a year ago
Amur added that the reported EBITDA projection is based on a long-term nickel price of US$7.27 per pound (US$16,000 per tonne)

Amur Minerals Corporation (LON:AMC) has announced an increase in the projected global underlying earnings (EBITDA) assessment of the mining potential at its Kun-Manie nickel copper sulphide project.

The AIM-listed firm said the projected EBITDA has increased by 78.75% to US$2.7bn, up from US$1.6bn a year ago.

READ: Amur Minerals to begin field engineering campaign at Kun-Manie project

The firm said the increase is attributable to mining Maly Kurumkon/Flangovy (MKF) by a combination of open pit and underground extraction methods in lieu of open pit only production. The mineral exploration company said the previous EBITDA estimate was based on open pit production only.

The group added that the reported EBITDA projection is based on a long-term nickel price of US$7.27 per pound (US$16,000 per tonne), and by-product revenues for copper, cobalt, platinum and palladium have been excluded.

Robin Young, CEO of Amur Minerals, commented: “The global 73 million ore tonne mining potential contains more than 400,000 tonnes of projected metallurgically recovered nickel supporting the operation for at least 12 years providing an indicated EBITDA of US$2.6bn.”

WATCH: Amur Minerals highlights significant increase in underlying earnings for Kun-Manie

He added: “Additional open pit mining potential is being evaluated which is directly related to last year’s highly successful drill programme where an ore tonnage increase of more than 251% at Ikenskoe/Sobolevsky, Kubuk and the area between is underway using the March 2018 updated mineral resource.”

Robin Young concluded: “With this area now being the largest source of mineralisation within the mining licence, it is projected that there will be a substantial increase to the global mining inventory and EBITDA from that of US$2.6bn.”


View full AMC profile View Profile

Amur Minerals Corporation Timeline

Related Articles

November 19 2018
Amur has already delineated a substantial resource at Kun-Manie
October 29 2018
The study shows Araguaia generates robust returns at current nickel prices
November 12 2018
Tantalex is focused on the exploration and development of lithium, cobalt, tantalum properties in Africa

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use