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 Fri Dec 11, 1998
Report Nov-Dec 1998: Amarc Resources Ltd - 1999 Bottom-Fish 100
    Publisher: Kaiser Research Online
    Author: Copyright 1998 John A Kaiser

 Report Nov-Dec 1998: Amarc Resources Ltd - 1999 Bottom-Fish 100

Amarc Resources Ltd (AHR-V)

Priority: Top

Tel: (604) 684-6365

Issued: 9,470,000
Diluted: 9,890,000

Adj Working Capital: $4,500,000
Overhead Burn: $18,613/mth
Cash Breakup: $0.48/sh

Insider Stake: 42%
People: Bob Dickinson

Life Cycle Stage: Early

Story: Shell

TROCL Risk: 0+0+0+0+1 = 1

99 Bottom-Fish Range: $0.50-$0.75

Amarc is the best shell in the Hunter-Dickinson stable. Insiders are well positioned, the treasury is strong, and the management team has exceptional ability to source a project, finance it, promote it to an exorbitant price, and manage the project right through to a buyout. The latter outcome has not materialized since Mt Milligan and Kemess, and the group is somewhat bogged down by Campo Morado (Farallon), Harmony (Misty Mountain) and Prosperity (Taseko). These projects need stronger metal markets to restore an uptrend; while we wait for this to happen Hunter-Dickinson are looking for new stories that will work in the current climate. Europe and Canada are being scoured for an advanced project for Amarc.


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