AMPELLA MINING LIMITED (AMX)



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General Information
Company Name: Ampella Mining Limited
Stock Code: AMX
Website: www.ampella.com.au
GICS Sub-Industry: Gold
Market Cap ($M): 57
Equiv. Shares (M): 248

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.230 $ 0.230 $ 0.230 $ 0.220 $ 0.235 691,290 $ -0.005  -2.128 %

Current Broker Consensus Recommendation more
Recommendation: Hold
Recommendation Date: 29th Apr 2013
12 Month Target Price (average): $0.64
Brokers Surveyed: 3

Company Overview

Business Description:
Ampella Mining Limited (AMX) is a near-term gold production and development company with gold assets in Burkina Faso, West Africa.

Strategy Analysis:
AMX aims to become a gold producer after exploration of its assets in Burkina Faso. Ampella Mining reported negative cash flow of $5.19m for the quarter ended 31 December 2012. Operating cash flow for the period was $(5.95m). Payments for exploration and evaluation were $(5.42m). Investing cash flow was $(4,000). Financing cash flow was $760,000. Cash in hand at the end of the quarter was $30.18m.


Financial Summary
Year to Dec NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  F -1.2 -0.1 -- -- -- 0.0 --
2013  F -6.2 -2.0 -- -- -- 0.0 --
2012  A -38.2 -16.1 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Ampella Mining (AMX) $58 M -- -- -- -- -- -- 0.0000 0.0000 0.0000
Evolution Mining (EVN) $588 M -- 0.2450 0.2095 11.9597 9.6065 7.9426 0.0000 0.0108 0.0229
Newcrest Mining (NCM) $11,513 M -0.0378 -0.4475 0.0889 10.6156 19.2121 17.6436 0.0233 0.0215 0.0233
OZ Minerals (OZL) $1,244 M -0.6077 -0.5926 1.2746 9.8439 24.1603 10.6218 0.0732 0.0255 0.0437
Regis Resources (RRL) $1,760 M 0.7775 1.2655 0.3111 24.3742 10.7589 8.2058 0.0000 0.0541 0.0791

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
AMX -- -- 1.82 -- --
Market 0.83 14.9 1.29 1.81 1.77
Sector 0.56 8.96 0.71 1.83 6.67

Directors
Name Position Start Date
Dr Paul Kitto Chief Executive Officer,Managing Director 15 October 2008
Mr Peter John Mansell Non-Executive Chairman 05 November 2010
Mr Ronald (Ronnie) Hugh Beevor Non-Executive Director 05 July 2011
Dr Michael Anderson Non-Executive Director 18 June 2012
Mr Ron Renton Non-Executive Director 05 July 2011

Management
Name Position
Jean Luc Roy Chief Operations Officer
Grant Jonathan Mooney Company Secretary
Neil Hackett Company Secretary
Anthony Rudd Exploration Manager
Drew Totterdell General Manager - Finance & Corporate Development
Philippe Blackburn Group Financial Manager
Jeremy Langford Project Manager
Simon Ford Study Manager

Substantial Shareholders
Holding Name
16,123,034 (6.53%) Acorn Capital Limited
43,662,873 (17.64%) Taurus SM Holdings Pty Limited

Calendar of Events
Date Event
02 May 2014 Report (Annual)
14 April 2014 Report (Quarterly)
27 March 2014 Report (Annual)
30 January 2014 Report (Quarterly)
30 October 2013 Report (Quarterly)
30 July 2013 Report (Quarterly)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

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