AMR’s Ban Phuc nickel mine and exploration project has the potential to become a world-class nickel district. The company has advanced mine extension, near-mine andregional exploration targets, as well as the potential for regional M&A and the development of a nickel smelter with low capital costs and strong government incentives. Management has established strong in-country relationships at the community, regional and national government levels and has the support required to deliver on its multi-tiered growth strategy.

Highly Favorable Geological Setting. The company’s exploration license covers 49.7 km2 of known regional targets and lies in the highly prolific Song Da rift. The geotectonic setting is strongly analogous to major Ni-Cu deposits such as Norilsk and the Ban Phuc Ni-Cu mineralisation is temporally and spatially associated with at least six other deposits within south-western China. The producing Baimazhai nickel mine (China) was formed in the same geologic event, located on-trend, NW of Ban Phuc.

Highly efficient exploration costs. With cost of ~$100/m, AMR’s experienced, dedicated exploration team has been able to conduct extensive surface exploration throughout the zone. This includes as successful drill testing in key areas, resulting in a number of well-defined targets, several of which are in very close proximity to the Ban Phuc mine. 

Prospect Map


A large disseminated resource, with numerous high-grade zones, is located immediately adjacent to Ban Phuc’s existing underground mine. This resource provides an excellent opportunity to extend mine life and leverage existing infrastructure. A tailings dam design has already been approved with > 1 million tonnes of additional tailings capacity available. Current progress/next steps include:

  • Detailed metallurgical test work program commenced 
  • Conceptual mining options review commenced
  • Disseminated mining license and approval process commenced


Field mapping, trenching and soil sampling has identified twelve high priority targets to date. In addition, an airborne magnetic survey has indicated a trend of magnetic anomalies extending for 2.8km. In particular, the Ban Khoa prospect, situated in very close proximity to Ban Phuc, has a strong magnetic anomaly with a radius of 700m.

This high high-priority target zone incudes the advanced King Snake target. Located only 1 km away from the Ban Phuc processing plant, early drillingat King Snake has identified the presence of continuous MSV mineralisation, similar in thickness variability to the MSV mineralisation at Ban Phuc. Current progress/next steps include:

  • Detailed structural modelling and EM work to refine drill targeting has commenced


AMR’s cash generating platform, strong government support and the company’s proven ability to operate successfully in Vietnam places it in an ideal position for growth through acquisition and strategic alliances. Since establishing itself as a low cost, profitable producer, the potential for AMR to grow shareholder value through M&A has increased considerably.

Current progress/next steps include:

  • Management is targeting and reviewing opportunities on a case by case basis.


AMR’s licence includes the opportunity to construct a nickel smelter in Vietnam. This would enable the company to significantly enhance the economics of Ban Phuc and future regional mines by substantially reducing export tariffs (currently an export tariff of 20% applies to nickel concentrate compared to a tariff of 5% for nickel matte). AMR would also benefit from significantly reduced transportation costs.

Initial engineering studies have been completed that indicate low capital costs for a smelter facility at Ban Phuc and the Vietnamese government has highlight its support. Current progress/next steps include: