Monday, April 8, 2013

Amara Mining plc - AMZ.t

Amara Mining plc - AMZ.t (previously Cluff Gold), is a producer from the flagship Kalsaka Project in Burkina Faso. The expected production guidance for Kalsaka/Sega is 50-60,000 ounces of gold in 2013.

Amara aims to develop its wholly-owned Baomahun project in Sierra Leone, which is expected to contribute an additional 135,000 ounces of gold per annum starting 2015. The current resource base consists of 2.24 million ounces of measured & indicated resources, with an additional 0.54 million ounces of inferred resources.

On March 27, 2013, the company reported Numbers

"Amara Mining PLC has released its audited results for the year ended Dec. 31, 2012.

Highlights Operational:

Robust operational results in 2012 -- production of 53,544 ounces at Kalsaka despite challenging conditions (total group production for 2012: 54,925 ounces);
Rigorous control maintained on cash costs despite lower grades -- $961 (U.S.) per ounce produced at Kalsaka (excluding royalties);
Resource update delivered for the Baomahun gold project in Sierra Leone and feasibility study on track for completion in first-half 2013;
Preliminary economic assessment for Sega gold project delivered and trucking of material expected to commence in third-quarter 2013;
Resources at the Yaoure gold project increased to 1.7 million inferred ounces (34.6 million tonnes at 1.52 grams per tonne) -- further upside potential and second resource update expected in second-half 2013;
Two thousand thirteen production guidance of 50,000 ounces to 60,000 ounces maintained, with production expected to strengthen in 2014 as Sega reaches steady state.