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AMUN very interesting player in the gold market

Westerburg (aktiencheck.de AG) – Analyst Henning Wagener of AC Research reiterates the speculative investors in their initial assessment to buy the shares of AMUN precious metals trading business.

AMUN precious metal trading post was established in 2003. While the company has recently specialized in the field of management service, the company after a successful restructuring has now repositioned as a pure commodity buyers and trading company specializing in the gold trade in the market. The raw gold are supported by businesses in the usually purchased directly and locally in the respective mining areas in Africa. This strategy could have the key advantage that AMUN handle it the middleman completely and therefore acquire the gold at relatively reasonable prices (about 700 U.S. dollars per ounce). Since AMUN pay for the raw gold is usually in cash, the company is a highly reliable partner for African miners. In addition, the locals were treated in the gold rush towns of Amun to European principles. In this context, the company had already done several times development aid.

After purchasing the Gold in the United Arab Emirates / Dubai are supplied. The operator may ask refineries a price premium of up to 50% on the paid raw gold price demand and thereby to secure its profit margin. The most important trade partner is the sales Lamasat Jewellery Trading LLC. This will get the raw gold refined and then either in the international wholesale or become locally processed into finished products for the jewelry industry. Another important trade partner of Amun was the African Mibaco. Here, if it were some trading posts in key African sites over which the trade would be made. The customers of Amun could be located, ensuring that the resources offered would not come from conflict zones, and thus less “ethically acceptable” are.

In the first quarter of fiscal year 2010/2011 have AMUN be able to generate sales revenues of 0.193 million euros a surplus of 0.111 million euros or 0.30 euros per share. The company planned to increase by a considerable expansion of Rohgoldhandels revenues of 3.1 million euros in the 2010/2011 financial year until the fiscal year 2014/2015 to 23.4 million €. In the same period was to increase the projected net income of 1.02 million euros to 4.43 million euros. In addition, the company will likely enter 2011 in the trade in rough diamonds.

Analysts had valued the shares of AMUN precious metal trading business based on projected figures provided by the company with a return value model. Here we have identified a fair enterprise value of approximately 22.5 million euros. As the Company had outstanding two convertible bonds, which are expected would be exchanged for in stock, the number of shares will still increase to 0.832 million. Thus, a fair value per share is clear from € 27.08. As the company but only at its beginning to its operating performance, stand, and the further course of business is therefore still subject to higher risks, keep it at a discount of 25% to this value is appropriate and put therefore establishes the 12-month price target to 20 euros. At the same time AMUN precious metal trading business stock on Friday was trading at 10.50 euros.

The analyst says look in the stock of precious metals trading business AMUN a very interesting, but clearly speculative investment opportunity.

We are interested in the procurement of legitimate uncut diamonds from African countries. If you have certified rough diamonds for sale, please make contact with us. We would be starting at 100 carat of gem quality diamonds but larger amounts would be welcome as well.