Amarc is a British Columbia-based mineral exploration and development company with an experienced and successful management team that is focused on the discovery and development of a new generation of British Columbia ("BC") copper mines. The company is publicly traded in Canada on the TSX Venture Exchange (AHR) and in the United States on the Over the Counter Bulletin Board (AXREF).
Amarc has assembled a strong portfolio of high-quality copper districts: at IKE, DUKE and JOY, and followed up by establishing strong project level financings with an experienced mine operator - Hudbay Minerals Inc. - to advance both the IKE and JOY projects. These partnership-style financings are an effective way to minimize dilution to a company's current shareholders. Amarc is self funding exploration at the DUKE project.
Successful field programs, including drilling, advanced each of Amarc's projects in 2017, with aggressive follow up programs planned for 2018.
A solid corporate platform has been created from which to launch value creation through exploration and development.
With its rich resource base, pool of highly skilled workers, stable government and easy access to Asian markets, BC is one of the world's most attractive exploration and mining regions. The mining and exploration industry is a significant contributor, both directly and indirectly, to the overall economic growth of the province.
Mining is a multi-billion dollar industry in BC: $8.7 billion in gross revenues were generated from mineral production in 2016. BC is also the global hub for mineral exploration, with approximately 60% of Canadian exploration companies based in the province as well as the world's largest concentration of geoscience professionals. In 2017, some $247 million was invested in exploration activities in BC, a 20% increase over 2016.
The mining sector is also largest private sector employer of Aboriginals in BC, and numerous Aboriginal owned suppliers and contractors work collaboratively with, and benefit from, the mining industry. Moreover, BC is the first province in Canada to share direct government revenue generated from mining with Aboriginal groups.
Provincial support for responsible mineral development is manifest in the excellent road and rail infrastructure in south-central BC, the provision of hydroelectric power at preferable industrial rates and the favourable tax regime. In 1998, the Province introduced the Mineral Exploration Tax Credit (METC) program, under which Amarc may recoup up to 30% of its exploration expenditures in areas affected by mountain pine beetle infestation. Successive BC governments have also extended the BC mining flow-through share tax credit program annually; BC METC and flow through share tax credits support mining exploration investment.