AMA AMARA MINING

Trades on a forward P/E of just over
8.5 to 2013 ...Derd cheap imo.

Amara Mining PLC

FORECASTS 2012 2013
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

GMP Securities
01-10-12 BUY 1.80 7.76
Edison Investment Research
28-09-12 None 10.95 2.97 38.92 14.47
Westhouse Securities
13-09-12 SBUY 10.00 2.40 13.70 4.50
Seymour Pierce
03-09-12 BUY 9.07 2.64 25.25 7.56
W H Ireland Ltd
28-08-12 BUY 13.76 8.76 21.34 10.33

2012 2013
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 10.91 3.62 24.88 8.90
1 Month Change -1.29 -0.48 1.37 0.32
3 Month Change -2.37 -0.03 24.88 0.26


GROWTH
2011 (A) 2012 (E) 2013 (E)
Norm. EPS % -39.36% 146.20%
DPS % % %

INVESTMENT RATIOS
2011 (A) 2012 (E) 2013 (E)

EBITDA £22.95m £21.77m £33.70m
EBIT £13.32m £8.94m £25.12m
Dividend Yield % % %
Dividend Cover x x x
PER 12.75x 21.02x 8.54x
PEG f -0.53f 0.06f
Net Asset Value PS 18.76p p p

http://www.businessinsider.com/charles-gibson-unearths-hidden-mining-gems-in-africa-2012-10

Beat me to it riviera.

Cluff Gold Broker Views
Date Broker Recommendation Price Old target price New target price Notes

01 Oct Seymour Pierce Buy 0.00 136.00 136.00 Reiterates
18 Sep Westhouse Securities Strong Buy 0.00 112.00 124.00 Reiterates
14 Sep Westhouse Securities Strong Buy 0.00 112.00 112.00 Reiterates
13 Sep HB Markets Speculative Buy 0.00 - - Initiates/Starts
12 Sep Seymour Pierce Buy 0.00 136.00 136.00 Reiterates

Waiting for a reversal now....

Broker Brief just out.....

05 Oct Cluff Gold PLC CLF Westhouse Securities Strong Buy 0.00 76.00 124.00 124.00 Reiterates

124p SP target.

I presume this AIM-stock isn't "dual-listed?"

AMA AMARA formerly Cluff Gold.

Excelent update SP should start
to move up now..........

http://www.investegate.co.uk/Article.aspx?id=201210160700057464O

Nice lengthy leading article in my hard copy of Shares magazine this week entitled "Precious Picks" and detailing the best ways to put a shine in your portfolio, focussing on Gold, Silver and Platinum plays and stating that they see a rally in the precious metals over the next 6 months.

Good half a page devoted to Amara Mining with a BUY recommendation at 73p and lots of positives mentioned:

~ They believe it is in the 1rst stage of a rerating
~ Preliminary economic assessment of SEGA is scheduled to come out soon
~ Mining licence then expected in early 2013
~ End of the month should see a Resource Upgrade at Baomahun
~ Mentions the Samsung deal and states that Samsung want to see the structure of how the deal works first before committing a larger payment of up to 1/2 the capital for Baomahun.
~Mentions Yauore had impressed the market with drill results and a new resource statement is due there by the end of the year and that Amara themselves were bullish on this prospect as it has access to cheap hydro-electric power and they believe there should be a quick turnaround from exploration to permit to production.

Finishes by stating that they have previously flagged Amara as a takeover candidate and they add that "there could still be a bid" but they also now think Amara "offers significant value creation potential over the coming 1 to 2 years as a standalone business."

You will need to buy the magazine to get the gist of the full and extensive article.

West African-focused gold miner Amara Mining has revealed that a preliminary economic assessment has confirmed the potential viability of the Sega gold project in Burkina Faso.

A technical report supporting the results of the PEA will be filed on SEDAR within 45 days.

Amara said the PEA has confirmed the potential viability of mining oxide and transitional material at Sega, located 20km north of Kalsaka, and transporting it to the compnay's existing heap leach operation at the Kalsaka gold mine for processing.

Maintaining cash flow is a key priority for the company and, with Sega's resources located 20km north of Kalsaka, production is expected to continue in Burkina Faso to help fund Amara's development pipeline (Baomahun and Yaoure) and ensure that the company maintains its status as a gold producer.

Chief executive Peter Spivey said: "The delivery of the Sega PEA is a key step in ensuring that cash flow is maintained at our producing mine Kalsaka.

"The resources at Sega, which are located within trucking distance of our existing plant, will significantly increase Kalsaka's mine life with limited capital investment required. In addition, the exploration results received from the Kalsaka-Sega complex have confirmed that there is significant upside resource potential.

"Amara is committed to its strategy of using its cashflow to develop its growth assets, providing flexibility to the company as it grows into a mid-tier producer."

Thought we might have had an RNS by today on a resource update. Maybe next month!!

I hold as the SP dips under 70p!

If it was a strong buy at 85 then I guess its even stronger at 62!!

9 days overdue with their resource update

Yep, must mean that they've found a little extra!!

Amara Mining (formerly Cluff Gold) Q3 Results – On Track: shares very cheap

November 14, 2012 | Filed under: AIM,Bullish,Stocks | Posted by: Tom Winnifrith



I tipped Cluff Gold (CLF) in September 2011 at 96p on t1ps.com, the website I founded in 2000 and left three months ago. Like most AIM listed gold shares Cluff has taken a beating and the stock closed at 58.5p today after the release of third quarter numbers. To reflect a change of leadership the company has now changed its name to Amara Mining (AMA). That seems like a bit of wasteful corporate PR willy-waving to me but, ignoring that, it seems to me that the fundamentals look increasingly attractive for Cluff, sorry Amara, and that this is not reflected in the stock price. Here is why.

The third quarter (to September 30th) results were solid rather than spectacular. The company’s lead producing asset Kalsaka produced 14,360 ounces despite unusually heavy rains in Burkina Faso. However higher grades meant that the cash cost fell by 8% from the Q2 cash cost, to $883 oz. Full year output is now predicted to be 53,000-57,000 oz. This is less than I had expected but the company is predicting a further improvement in grade in H1 2013 however the resource at Kalsaka is running out. It might produce 70,000 oz next year but at some stage output will tail off.

At a financial level there was a 22% increase (compared to Q2) in quarterly EBITDA, to $7.6 million, driven by the reduced cash costs. At the period end cash and liquid assets were $28.4 million with a further $20 million added to that since September by a drawdown on the Samsung loan facility which will be used to bring the next projects on track. And that is the key to a rapid ramp up in output.

On October 16th Amara announced the results of the Preliminary Economic Assessment for the Sega gold project. It is a small open pit resource within trucking distance of Kalsaka. It contains 162,825 ounces of gold which will be extracted over a 21 month period starting in the first half of next year at a cash cost of $821. The resource may actually be bigger and that would simply extend the project’s life.

The really big uplift to production will come from the Baomahun gold project in Sierra Leone where work continues on the resource update but we already know that there are 2.1 million ounces of gold there at a 2.5/g/t cut off.. But it is assumed that this mine could add another 135,000 oz per annum to output at a cash cost of c$700-800 oz. There have been delays here but the company still expects to have it commissioned and pouring its first gold in 2015. Looking further ahead the Yaoure, Cote d’Ivoire exploration project continues to deliver some cracking exploration grades. We can expect a comprehensive resource update in early 2013 and this could be Amara’s most attractive property of all.

So what sort of output can we expect? Assuming that deadlines are met, Kalsaka plus Sega should deliver 100,000 ounces in 2013, rising to 120,000 oz in 2014 and then in 2015 as Baomahun comes onstream we can expect sustained output of 135,000-150,000 oz per annum. Let us assume an average cash cost of $800 and a gold price of $1500 (naturally I expect a higher gold price but let’s be prudent) then that implies operational cashflow of $70 million next year, $84 million in 2014 and around $100 million per annum thereafter. At 58.5p Amara is capitalised at £92 million ($150 million). Even ignoring the enormous potential of Yaoure, if one strips out the cash you are paying $120 million for 2013 cashflow of $70 million, rising to $84 million and to $100 million sustainably from 2015. That is clearly the wrong price. On a miserly three times 2015 cashflow multiple (based on a very cautious $1500 gold price) plus cash the shares should more than double. Value this company on a $1700 gold price and allow something for Yaoure and one can easily construct a basis for setting a 200p target price. Notwithstanding the silly name change, Cluff (I mean Amara) should be in your gold portfolio.

The stock is clearly cheap on fundamentals


I hold

What he said 3 months ago!!

Cluff Gold – Takeover Target? Yes. But also a mega buy on fundamentals

By Tom Winnifrith

PUBLISHED: Aug 14 2012 @ 09:56

Like most AIM (and in this case also Toronto) listed smaller gold companies the share price of Cluff Gold (LSE:CLF) has taken a beating of late – falling by almost 50% to 55p. While many of its peers may have to raise extra cash – hence their share price collapse – Cluff has already completed a placing (at 85p) and is thus fully funded to bring a portfolio of exploration and development projects onstream. Moreover it is already producing and generating cash. On fundamentals it is cheap. But the recent bid by Endeavour for Avion shows that Cluff is also pretty much in play as a bid target. This is a win.win for investors.

Let’s start with Endeavour. I quote here research out this morning from a leading London broker:

“In early August Endeavour Mining announced its offer for Avion Gold Corp at a healthy premium of 70% above the 20 volume weighted average price of Avion’s shares. Endeavour has also agreed to provide Avion with a $20m bridging loan to enable the junior to carry out a mill capacity expansion, a recent thorn in the side of Avion that is related to the recent weakness in its share price. The objectives of Endeavour are clear: it is bolting on producing ounces at a price of $588 per reserve ounce.

Of particular note are comments that outgoing Executive Director Mark Connolly made while presenting at the Diggers & Dealers conference at the same time the acquisition announcement was made. Mark said that Endeavour would actively pursue two other Canadian listed companies once it had completed the acquisition of Avion. Extrapolating the main drivers behind the Avion acquisition, Cluff could be another good fit for a larger Endeavour Mining company in that Cluff has producing assets, a good near-term development project as well as plentiful resource growth potential.”

Enough said. You will note that Endeavour paid for Avion not what the market priced Avion at but some reflection of its true worth. For companies like Endeavour drilling in the City is pretty attractive right now.

What is Cluff worth? This morning we had news of some fairly decent drill grades from its Yaoure prospect in the Ivory Coast. The Company expects to announce an increase to the current 292koz gold resource by the year end. Early metallurgical test work suggests that gold is free and relatively easy to recover. The grades today included:

 7.05m at 3.15g/t gold from 106.78m

 9.14m at 4.28g/t gold from 91.42m

 6.17m at 9.06g/t gold from 421.67m

 6.51m at 9.39g/t gold from 40.92m

Yaoure is but a small part of the exploration portfolio but since it is close to water and infrastructure it would be cheap to develop. Of more interest is the much larger Baomahun prospect where we will get news soon with the publication of its feasibility study. This could well add 135,000 oz a year to output.

Cluff already produces gold (on a cash margin of c$750 oz) from Kalsaka and this should deliver 60,000 to 70,000 oz this year. It is EBITDA positive on a quarterly basis. And if it can incorporate the recently purchased Sega prospect into the Kalsaka processing plant output will rise sharply as will the cash margin.

At 55p Cluff is valued at c£86 million. This is a company that in two of three years from Kalsaka, Sega and Baomahun could be producing 200,000 – 250,000 oz on a cash margin ( at current gold prices) of $800 ( call it £500). And it is fully funded. And it has additional exploration upside. You can do your own maths but on fundamentals this is very cheap indeed. On an operating cashflow multiple of even 3 and allowing nothing for exploration upside you are looking at a target price of well over 200p per share.

Gold stocks are not loved. But with its balance sheet and producer status Cluff limits the downside risk. The upside (even without a bid) is clear.

Also worth a read

http://www.24hgold.com/english/news-gold-silver-christopher-welch-searching-for-a-perfect-10.aspx?article=4125128130G10020&redirect=false&contributor=The+Gold+Report&mk=1

Yesterdays RNS overview

UPDATE: Amara Mining unveils ‘significantly more robust’ Baomahun resource
Mon 12:38 pm by Jamie AshcroftBroker Westhouse said the structural work has identified more targets that lie within the current pit shell

Amara Mining (LON:AMA, TSE: AMZ) has updated the indicated gold resource at the Baomahun project to 2.24 million ounces.

The Baomahun project, in Sierra Leone, is being advanced through a feasibility study which is due in the first half of next year. This puts the project on track for first gold production in 2015.

The new update has increased indicated resources by adding material from a low grade halo that’s found around a high grade core - the resource now stands at 38.4 million tonnes at 2.6 grams per tonne (g/t).

Baomahun’s high grade core deposit remains at 23 million tonnes at 2.6 g/t for 1.92 million ounces of indicated gold resources.

Amara says the new resource model is significantly more robust.

“The completion of the resource update for Baomahun, following the additional structural work, is a key step on our path to delivering long term value at the project,” said chief executive Peter Spivey.

“Not only does this represent a robust geological model for the development of our feasibility study, it also significantly increases our understanding of the genesis of the Baomahun deposit, highlighting a number of additional near term exploration targets and assisting with the long term exploration of our tenements.

“With the new geological model we move forward with increasing confidence as we complete the work required to develop Baomahun.”

Broker Westhouse said the structural work has identified more targets that lie within the current pit shell, with the potential to replace material currently classified as waste.

“This could result in a reduced strip ratio and therefore increased project economics,” added analyst Rob Broke.

He keeps his ‘buy’ rating and 124p target price on the stock, more than twice the current value of the shares which stand at 60.6p, up 1.6p or 2.7% today.



I Still Hold

http://tomwinnifrith.com/articles/1469/amara-mining-cluff-gold-baomahun-results-analysis


TWs update for what its worth.

Amara reveals further significant results at Yaoure
StockMarketWire.com
Amara Mining - formerly Cluff Gold - has revealed further significant sulphide drilling results from its Yaoure project in Cote d'Ivoire.

It says drill results continue to confirm the potential for a large, moderate-grade sulphide deposit underlying the previously mined oxide resources at Yaoure.

All of the 90 holes reported have encountered mineralisation.

Significant intercepts include 38.1m at 3.67g/t from 102.9m in hole YDD0068 and 8.0m at 9.47g/t from 69.0m and 43.2m at 1.78 g/t from 144.9m(i) in hole YDD0073.

Chief executive Peter Spivey said: "These latest drilling results from Yaoure continue to confirm our belief in the project's potential.

"We expect the remaining assays in the coming days and we intend to update our sulphide resources in Q1 2013.

"By using our cashflow from Kalsaka to fund our exploration at Yaoure and at the Baomahun project in Sierra Leone, Amara is differentiating itself from other junior mining companies and delivering on its strategy to become a mid-tier producer."

Amara Mining braced for busy year of potential catalysts

Tue 11:03 am by Jamie Ashcroft

Amara is expecting to produce 53-57,000 ounces of gold this year, throwing off around $30-40mln a year in earnings.

For an AIM quoted gold miner Amara Mining (LON:AMA) has a particularly busy schedule packed full of potential catalysts.

With cash generative production, a major mine development project and exploration upside it ticks many of the boxes for investors that might otherwise be looking at much bigger companies.

It is not a new story for investors, however.

The company, previously called Cluff Gold, has been around for years, but key board changes and a reboot of the brand has rejuvenated the investment case in the eyes of some investors.

Indeed, RFC Ambrian said in a note recently that Amara was set for a brighter future, while banking heavyweight Goldman Sachs last month added it to a ‘buy list’ of West African miners.

This new-found recognition from the City is in part due to the recent appointment of John McGloin as executive chairman in May.

Prior to his appointment McGloin was a well-regarded City mining analyst - formerly head of mining at Collins Stewart - and along with fellow Amara executives Peter Spivey (CEO) and Pete Gardner (FD) he plans to oversee the group’s next phase of growth.

“We have invested more cash flows from our operations into the business to provide flexibility going forward,” McGloin said, in an interview with Proactive Investors.

Amara is expecting to produce 53-57,000 ounces of gold this year, throwing off around $30-40mln a year in earnings.
McGloin says that the re-investment of this cash is vital for the company’s future.

“We've ensured that we've invested in all our projects, and although we've got a rigid path that we're moving on in terms of exploration, development and production, we have got a spread of risk across the value chain and also the West African region.

“Also, being able to fund yourself is a great comfort to have. We have solid production and good margins. That allows us to keep investing in growth.”

The Sega project in Burkina Faso is a pertinent example of this investment. The project was acquired in May and while it is not huge, the new mine will serve a crucial strategic purpose.

Sega will cost just shy of $10mln to build and it will preserve Amara’s status as a ‘miner’ by providing higher grade ore to the maturing Kalsaka mine, which would otherwise deplete its reserves at some point next year.

Initially it will see an additional 21 months of gold production from Burkina Faso – though fresh exploration may increase this. What is most significant, however, is that the extended production will support Amara through what is likely to be its most important period to date.

A pivotal feasibility study on the Baomahun project is due towards the end of the first half.

If successful, it will trigger a transformational programme of development which will ultimately see Amara establish gold output in the order of 140,000 ounces a year.

It is estimated that the mine will cost $200mln to build, though a ground-breaking financing deal with Korean conglomerate Samsung promises to cover the majority of the project finance.

Those invested since the Cluff days will know the potential of Baomahun. For them it has for a long time been the prize they've had sights on, although the progression of Kalsaka/Sega and Yaoure means it now has a broader portfolio appeal.

They will also know that, based on original timelines, the feasibility should have been done and dusted at this point - the deadline was first pencilled in for the third quarter of last year.

But the decision was taken to spend more time on the pivotal study to ensure the project was sufficiently robust.

That has involved a full geological remodelling of the project, and the process, McGloin explains, has reaffirmed confidence and refined the mine plan – a new resource statement, released last week, will also form part of the study.

"I'm happy with the recent work we've done.

"We now have a model that we are very happy with. There is not a huge difference between the new number and the old number in terms of the global resource, but we've now got a better definition of the deposit, on a more local level.

"It gives us greater confidence as we move forward through to the scheduling and pit design, that we've got a model that will behave more like the real world rather than something theoretical.

"And we are now looking at the scheduling so we can get a high grade starter pit over the first couple of years and allow rapid payback."

That said, McGloin reckons next year's study will merely define the base case for Baomahun.

He highlights targets outside the current pit design. They are not huge in themselves (about 200,000 to 300,000 ounces each) but because they are near surface and close to the planned facilities they are likely to be economic.

There is also a much larger target further north with different geology but a similar structure, and while a lot more work is needed here. McGloin says it has the potential to be 'Baomahun size'.

It is still early days however, and McGloin is wary of talking this prospect up too much.

For now, though, the priority is to get the project signed off and built.

Key to keeping the project on track will be to start as much work as possible, as early as possible. The challenge is Sierra Leone’s long rainy season.

“Losing one month or two at the start of a programme it can potentially mean we lose a whole season because you can’t start to build a mine in the rainy season,” McGloin says.

Also between now and completing the feasibility study, Amara plans to start putting infrastructure in place.

In completing the feasibility, cost estimates and supply chain timetables also need to be refined and McGloin explains that this may yield some cost savings.

The project is currently estimated to cost US$200mln. It is anticipated that the majority of this will be covered by Samsung via a similar off-take deal to the one currently in place for Kalsaka/Sega, but, an additional element of funding will also be required.
In the meantime, Amara will be throwing off $30-40mln in cash from its production in Burkina Faso.

The plan is to invest this primarily into exploration across the portfolio, to fund growth across the whole group, he says.

"We have two choices. We can either invest the money to move all our projects forward, or we slow everything down, sit on our hands, and build that cash to plug the gap for Baomahun."

McGloin points to the value that Amara is adding via its investments this year as a reason why he prefers the first option.
He highlights that $10-12mln was invested this year at Yaoure. That investment, according to McGloin, has allowed Amara to advance the project and could add value in the months ahead.

“The full effect of that will be seen when we get the resource update out in the first quarter. The value will be clear to see. I’m expecting to see those resources jump significantly."

Reverting momentarily to his past role of mining analyst, McGloin explains that the City doesn’t currently recognise the value of Yaoure at all.

He also said that while it's not necessarily an ideal 'Plan A', Yaoure could potentially open up strategic opportunities to help fund Baomahun and avoid the need to raise capital in the debt and equity markets


I hold

Graph shows Mkt concern....was 75p when they changed the name (that's when folk starting looking seriously and found it has African names at its mast ) - none too keen on arty names . . why not African Mining?
Sp fallen from 75p to current 42p ~4 months- that's some hole we're looking at.
EDIT(,1Mch2013)- I'm reading it's a Sell in IC - so that's a Buy, then? I hold in hope rather than sell at evens/loss. . . . (why profit the Brokers, eh?)

RNS Number : 7238A

Amara Mining PLC

25 March 2013 AIM:AMA / TSX:AMZ
Amara Mining plc

("Amara" or "the Company" or "the Group")
RESOURCE UPDATE FOR YAOURE GOLD PROJECT
Amara Mining plc, the dual AIM and TSX-listed West African focused gold mining company, is pleased to announce an updated NI 43-101 compliant Mineral Resource estimate for its 90% owned Yaoure Gold Project ("Yaoure") in Côte d'Ivoire.
HIGHLIGHTS
· 1.7 million ounce sulphide Inferred Mineral Resource delineated at Yaoure (34.6Mt at 1.52g/t) 1

· Indicated Mineral Resource upgraded to 0.3 million ounces (8.0Mt at 1.31g/t) 1, 2

· Mineral Resources contained within 40% of the total mineralised volume drilled to date

· Further Mineral Resource update expected in H2 2013 from on-going in-fill drilling campaign

· Resource grade is expected to be updated through definition of additional resources via in-fill drilling below the higher grade CMA North-Central pit

· Resource is open at depth and along strike with all 106 holes drilled in 2011/12 encountering mineralisation

· Initial metallurgical testwork has confirmed the non-refractory nature of the gold mineralisation with 94% recovery in a conventional carbon-in-leach ("CIL") circuit

· Preliminary Economic Assessment ("PEA") is expected to be completed in Q4 2013

· Location of Yaoure is highly advantageous due to close proximity to Kossou dam, which offers cheap hydo-electric power and abundant water, excellent roads and accommodation

1. Using a 0.8g/t cut-off

2. Previously 0.2 million ounces Measured and Indicated (4.9Mt at 1.6g/t) using a 0.5g/t cut-off, an uplift of 90,000 ounces
Peter Spivey, Chief Executive Officer of Amara, commented:

"The delivery of a significant Mineral Resource update confirms Yaoure's position as an important part of Amara's portfolio. It is particularly exciting that the volume of the resource is only 40% of the total volume drilled and excludes much of the anticipated higher grade CMA zone, suggesting substantial upside potential. We have commenced in-fill drilling and we expect to deliver a further Mineral Resource update in H2 2013."
Yaoure Strategy
Amara conducted a 106-hole drilling campaign at Yaoure in 2011/2012 with the objective of defining a large scale, moderate grade sulphide deposit underlying the previously mined oxide resources. Yaoure had existing Measured and Indicated sulphide Mineral Resources of 249,000 ounces (4.9Mt at 1.6g/t)[i] and Amara's aim was to deliver a significant increase on these existing resources. The area drilled has an across-strike width of 1.1km covering both the historic open pits (Yaoure Central and CMA North-Central) and an along-strike length of 1.5km. All holes encountered mineralisation suggesting the full extent of the deposit has not yet been defined.



The Yaoure mineralisation is an epithermal-mesothermal, quartz-carbonate vein-style gold deposit. The mineralisation is controlled by a thick zone of shearing (imbricate thrusting from the east), resulting in multiple zones of alteration, quartz veining and gold mineralisation. The drilling has focused primarily on two targets:



· The north-south trending Yaoure Central mineralised package in the west - a 200m thick low-grade body with higher grade lenses, extending down to the east from the Yaoure Central pit at a dip of 30 degrees

· The north-south trending CMA set of mineralised zones in the east, including a more discrete, relatively continuous 20m thick zone, about 140m above the Yaoure Central body, extending down to the east from the CMA North and Central pits



Mineralisation within later cross-cutting high-grade sub-vertical quartz veins with visible gold is evident in the Yaoure Central body. Although these veins potentially enhance the overall grade of the deposit, they were not a primary target of the outline drilling programme.



The drilling programme was designed to delineate a large-scale opportunity at Yaoure. The drilling in the central portion has a higher density (approximately 120 metres by 120 metres) than the drilling in the CMA zone to the east (approximately 200 metres by 200 metres). The resource update announced today relates to the central area, which covers approximately 40% of the total mineralised volume drilled.



Mineral Resource Upgrade

Amara has delivered an Inferred Mineral Resource of 1.7 million ounces (34.6Mt at 1.52g/t) and an upgraded Indicated Mineral Resource of 0.3 million ounces (8.0Mt at 1.31g/t) at Yaoure. The Company invested US$14 million in exploration at the project in 2012 and this increase in Mineral Resources represents an average discovery cost of approximately US$8/oz.

The Mineral Resource estimate has been prepared by AMC Consultants (UK) Limited ("AMC") in accordance with the Canadian Institute of Mining and Metallurgy and Petroleum ("CIM") Standards on Mineral Resources and Reserves as recognised by National Instrument 43-101 "Standards of Disclosure for Mineral Projects" of the Canadian Securities Administrators ("NI 43-101"). The Mineral Resource estimate is reported above a 0.8g/t cut-off derived using a US$1,500/oz gold price. Further details of the resource estimation parameters and cautionary statements relating to the statement of Mineral Resources are set out in Appendix 1.

Yaoure Mineral Resource estimate, including cut-off grade sensitivity, as of 25 March 2013[ii]
A 0.8g/t cut-off has been used on the basis of a US$1,500/oz gold price and costs consummate to similar types of deposits in West Africa.

Further Exploration Potential

A total of 31,955 metres were drilled at Yaoure in late 2011 and 2012. Outside of the areas where an Indicated and Inferred resource has been defined the exploration has outlined an along-strike and down-dip exploration target of 2 to 3 million ounces of gold contained within 50Mt to 60Mt of mineralisation grading 1.3g/t to 1.5g/t. The potential tonnages and grade are conceptual in nature and are based on drill results that defined the approximate length, thickness, depth and grade of the deposit. There has been insufficient exploration to date to define this additional potential as a CIM-compliant resource currently and the Company cautions that there is a risk that further exploration will not result in the delineation of a resource.



A significant portion of the exploration target relates to the continuation of the higher grade CMA zone, which is expected to increase the overall grade of the mineralisation if further drill results confirm the continuity and grade of this mineralisation.



Following the delineation of this Mineral Resource at Yaoure, Amara has commenced in-fill diamond drilling at the project to reduce the drill spacing. This campaign is focused on promoting the mineralisation lying outside the currently defined Inferred Mineral Resource envelope, which covers 40% of the total mineralised volume drilled. The Company expects to announce an updated Mineral Resource in H2 2013.



Next Steps

Alongside the 2011/12 drilling campaign, Amara conducted a metallurgical testwork programme at Yaoure to understand the leaching kinetics of the mineralised material. This reported a recovery rate through a traditional CIL circuit of 94%, confirming the non-refractory nature of the gold mineralisation. Phase two metallurgical testwork is expected to be completed by the end of Q2 2013, which is designed to identify the optimal processing route. This will include comminution testwork together with an analysis of the amenability of the ore to heavy medium separation, gravity and flotation.

In addition, Amara intends to begin assessing the economic potential of the updated Mineral Resource through a Preliminary Economic Assessment that is expected to be completed in Q4 2013. Yaoure's location presents a number of advantages that will enhance the prospects for a CIL plant to be developed at site. These include excellent existing infrastructure, such as close proximity to the Kossou dam, which offers the potential for lower operating and capital costs through the utilisation of hydro-electric power. In addition, Yaoure benefits from an existing mining licence and environmental permits, which is expected to reduce the timeline from exploration to development.

Full Year 2012 Results

Amara will announce its results for the year ended 31 December 2012 on Wednesday 27 March 2013. A conference call and webcast will be held for analysts and investors at 09:30am UK time and a second conference call will be held for North American analysts and investors at 2:30pm UK time / 09:30am EST on 27 March, which will also cover the on-going work at the Yaoure Gold Project. Details of the conference call numbers will be announced at the time of the FY2012 results.

For more information please contact:

Amara Mining plc

John McGloin, Chairman

Peter Spivey, Chief Executive Officer

Pete Gardner, Finance Director

Katharine Sutton, Head of Investor Relations

+44 (0)20 7398 1420


Canaccord Genuity Limited

(Nominated Adviser & Broker, London)

Andrew Chubb

Sebastian Jones
Tim Redfern



+44 (0)20 7523 8000


Pelham Bell Pottinger

(Financial Public Relations)

Charles Vivian

Lorna Spears

James MacFarlane

+44 (0)20 7861 3232

Top riser this morning.

..more to come.

Interesting chart.

The message from the USA seems to be "buy gold now".


http://goldnews.bullionvault.com/gold-long-bond-082720132

Results for the half year due out 10th September. Feasibility study announced on 16th August sounded very positive.

RNS Number : 8414L
Amara Mining PLC
16 August 2013
16 August 2013 AIM:AMA / TSX:AMZ
Amara Mining plc
("Amara" or "the Company")
FILING OF TECHNICAL REPORT FOLLOWING BAOMAHUN FEASBILITY STUDY
Amara Mining plc, the dual AIM and TSX-listed West African focused gold mining company, is pleased to announce that the Feasibility Study ("FS") for its 100% owned Baomahun Gold Project in Sierra Leone ("Baomahun" or "the Project") was filed on SEDAR yesterday. The National Instrument 43-101-compliant technical report is entitled 'Feasibility Study of the Baomahun Project in Sierra Leone - NI43-101 Technical Report' and has an effective date of 28 June 2013. This follows the news release dated 02 July 2013 detailing the results of the Baomahun FS.
A copy of the technical report may be obtained via www.sedar.com and on Amara's website at http://www.amaramining.com/Investor-Relations/NI43-101-Reports. A copy of the news release may also be obtained via SEDAR and on Amara's website.
The previously announced highlights of the Baomahun FS are as follows:
Overview
-- The FS outlines a robust and economically viable project -- The Project is expected to generate a post-tax Internal Rate of Return (IRR) of 22% and a post-tax NPV of US$127 million at a discount rate of 8% and a gold price of US$1,350/oz
-- Life of mine average total cash costs of US$799 per ounce (including royalty and refining) -- Maiden Probable Mineral Reserve defined for Baomahun of 1.21 million ounces (23.3Mt at 1.62g/t) at a gold price of US$1,100oz
-- Amara intends to immediately investigate the recommendations generated by the FS to optimise capital intensity, initial capital outlay and payback period
Operational
-- Average gold production of 148,550 ounces per annum over the first six years at an average grade of 2.53g/t, with production of 203,970 ounces in the first year at 3.90g/t
-- Average recovery of 93.4% through a 2 Mtpa processing plant incorporating single stage crushing, SAG milling and a carbon-in-leach circuit
-- The Project is fully permitted with a Mining Lease granted on 11 July 2008 for a period of 25 years and an Environmental Permit granted on 19 April 2012
Financial
-- Total revenue of US$1.53 billion and post-tax cash flow of US$273 million based on an average gold price of US$1,350 per ounce
-- Upfront capital cost of US$151 million and a rapid capital payback period of three years -- Strategic alliance with Samsung C&T Corporation with the potential to provide cornerstone financing for Baomahun project, capable of satisfying a significant portion of the total Baomahun financing needs
Notice of Results
Amara will announce its results for the half year and quarter ended 30 June 2013 on Tuesday 10 September 2013. A briefing will be held for analysts, with a simultaneous conference call and webcast, at 09:30am UK time and a second conference call will be held for North American analysts and investors at 2:30pm UK time/09:30am EST. Details of the conferencecall numbers will be announced at the time of the H1/Q2 results

"Uncertainty on whether or not military action will be taken against Syria has taken off some of gold’s safe-haven bid," reckons Joni Teves at Swiss investment and bullion bank UBS in London.



But amongst hedge funds trading gold, "the recent move in positioning clearly indicates further reluctance to be short," says Teves, "as geopolitical tensions add to looming event risks out of the US" such as the possible tapering of Federal Reserve asset purchases, and then the likely debt-ceiling deadline in mid-October.



Speculators trading gold cut the number of bearish bets on US futures and options they held by 24% in the week-ending last Tuesday – the fastest pace since March 2009 – reducing it to near 7-month lows.



Net of those bearish bets, the so-called "net long" position held by speculators trading gold derivatives rose 173% from a month earlier, its fastest rise since June 2005.



"First it was short-covering," said US consultancy CPM Group's Jeffrey Christian to BNN late last week – "about half of the shorts liquidated. Now you're seeing some long building, and you're seeing trend followers.



"Soon as the price stalls out, and it will, you'll see those trend followers back off."



But "Bullish potential is beginning to emerge for gold," reckons a technical gold trading note from London market-maker Barclays in London.


"Price charts highlight the rare occurrence of a strong bullish month on the heels of corrective extremes, which previously led to a significant move higher."

Good finish today - half year results due next Tuesday, could be the start of move North up to the 10th.

(Kitco News) - Gold prices ended the U.S. day session with good gains Tuesday, as bargain hunters stepped in to buy the early dip in prices. There was also safe-haven buying that surfaced during the day as it appears the U.S. Congress will support President Obama’s effort to use military force against Syria. December Comex gold was last up $18.30 at $1,414.40 an ounce. Spot gold was last quoted up $18.00 at $1415.00. December Comex silver last traded up $0.897 at $24.41 an ounce.

The gold market started to reverse modest early losses in late-morning dealings—about the same time that news reports said U.S. congressional leaders are falling in line with Obama and his notion that Syria needs to be punished with U.S. firepower for its alleged use of chemical weapons against its population. Russian news agencies reported overnight that two missiles were launched in the Mediterranean Sea, possibly a test from Israel. Those reports caused European stock markets to shudder and gold prices to briefly rally. If this situation escalates, stronger safe-haven demand for gold will likely surface.

Technically, December gold futures prices closed near the session high Tuesday and scored a bullish “outside day” up on the daily bar chart. The gold market bulls have the overall near-term technical advantage. A nine-week-old uptrend is in place on the daily bar chart. The gold bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance at last week’s high of $1,434.00. Bears’ next near-term downside breakout price objective is closing prices below solid technical support at $1,350.00. First resistance is seen at $1,418.60 and then at $1,425.00. First support is seen at $1,400.00 and then at $1,384.00.

"As we pointed out last week, the month of September tends to be a seasonally positive month for gold. With the fundamentals and technicals positively aligned as the month commences, potential is to the upside. Certainly any new shooting in the middle east is going to tend to bolster the yellow metal."

USAGOLD.com

Update from the USA.

"The near and medium term trends are bullish for gold. The market has stalled out at the $1,434 level short-term. The market sees a large amount of event risk over the next several weeks, including potential action over Syria, this Friday’s U.S. jobs report, the September 17-18 Federal Open Market Committee (FOMC) meeting and potential news on when the central bank may decide to begin tapering its monthly asset purchases. The burden is on the bulls to maintain the uptrend. Near term, as long as $1,351 remains intact, the trend pattern will remain positive."

Share price gone blue - price of gold going up and the dollar dropping ...............

Sierra Leone News: Cluff Gold feasibility study confirms robust financial returns at Baomahun

Alusine JallohAmara Mining plc, the dual AIM and TSX-listed West African focused gold mining company has announced the results of its Feasibility Study (“FS”) for its 100% owned Baomahun Gold Project in Sierra Leone which outlines a robust and economically viable project. According to the study the Baomahun Project is expected to generate a post-tax Internal Rate of Return (“IRR”) of 22% and a post-tax NPV of US$127 million at a discount rate of 8% and a gold price of US$1,350/oz whilst the Life of mine (“LOM”) average total cash costs of US$799 per ounce (inc. royalty and refining)
The Maiden Mineral Reserve defined for Baomahun of 1.21 million ounces (23.3Mt at 1.62g/t) at a gold price of US$1,100oz. Amara Mining intends to immediately investigate the recommendations generated by the FS to optimize capital intensity, initial capital outlay and payback period.
The FS is based upon an open pit operation with a mine life of 11.5 years and a processing capacity of 2 million tonnes per annum (“Mtpa”) through a conventional carbon-in-leach (“CIL”) plant.
Average production is expected to be 148,550 ounces per annum over the first six years at 2.53g/t head grade, with production of 203,970 ounces at 3.90g/t in the first year generating strong cash flow.
Peter Spivey, Chief Executive Officer of Amara, commented that “the Feasibility Study has demonstrated the economic strength of the Baomahun Gold Project. We intend to maximize the opportunity for further upside through optimisation which, in light of the current poor equity valuation environment and uncertainty over the outlook for the gold price, is a prudent strategy and in keeping with our approach of lowering risk.
This work he said will focus on opportunities highlighted by the FS including enhancing capital intensity, reducing initial capital outlay and shortening the payback period for Baomahun through exploring scenarios for a smaller plant and higher grade open pit, an earlier underground phase and hydro-electric power. We expect this to demonstrate an even more robust and deliverable project. He added
“Having proven the viability and value of Baomahun, we will now begin discussions with our partner, Samsung, and other interested parties with regards to funding the development in a non-dilutive fashion. The delivery of the Baomahun FS is an important step in demonstrating the intrinsic value in the Company’s portfolio of assets.”
It is estimated that Average gold production of 148,550 ounces per annum over the first six years at an average grade of 2.53g/t, with production of 203,970 ounces in the first year at 3.90g/t. Probable Reserves of 1.21 million ounces (23.3Mt at 1.62g/t) at a gold price of US$1,100 per ounce and Average recovery of 93.4% through a 2 Mtpa processing plant incorporating single stage crushing, SAG milling and a CIL circuit
The Project is fully permitted with a Mining Lease granted on 11 July 2008 for a period of 25 years and an Environmental Permit granted on 19 April 2012 with a financial Post-tax IRR of 22% and NPV of US$127 million at an 8% discount rate and a US$1,350 per ounce gold price.
A Strategic alliance with Samsung C&T Corporation (“Samsung”) with the potential to provide cornerstone financing for Baomahun project, capable of satisfying a significant portion of the total Baomahun financing needs
When contacted the Country Manager of Cluff Gold Sierra Leone Alusine Jalloh said that the company has completed exploration operations within the Baomahun Concession area after several years and believes there is huge gold potential for mining operations.
He said according to the feasibility study of the exploration there is maximum deposit of gold within the Cluff Gold concession area and the company is determined to commence mining after the completion of negotiations with the government for a mining lease agreement.
He said two major events occurred this year that resulted in staff reduction. The first was the completion of exploration work within the Baomahun concession area and the second was the sharp decline of the price of gold world-wide. Those two happened almost at the same time and hence the company was forced to reduce its workforce.
The Country Manager of Cluff Gold also said that despite the slump in the price of gold around the world, which seriously affected the company’s operations in Burkina Faso, “we remain committed and determined to start mining gold at Baomahun.”
He expressed gratitude to the local community for supporting Cluff Gold operations over the years within the Valunia Chiefdom and assured them of continuous collaboration for a successful investment that will create foreign direct investment for economic growth and sustainable development of the country.

From the Telegraph today:

Gold Aim stocks best sellers in August

Gold mining minnows have been one of the most popular areas of London’s alternative Aim stock market since rules were relaxed last month allowing private investors to hold Aim-listed shares inside their Isas.

The number of trades in Aim-listed shares doubled following the change, according to Interactive Investor, the online trading platform. Four of the 20 most bought Aim stocks in August were gold miners, it said.

The most popular gold stocks bought for Isa portfolios in August were Condor Gold, Amara Mining, SolGold and Red Rock Resources. All four stocks have leapt over the past month, with Red Rock Resources rising by 205pc from 0.4p to 1.22p.

Other commodity-focused Aim investments also proved popular in August, particularly oil exploration companies. Popular stocks included Xcite Energy and Range Resources. Top of the pile was Gulf Keystone, the small oil company, which was the top-selling Aim stock in August, during which its price climbed by 3pc to around 178p.

Outside commodities, more recognisable Aim names such as Asos, the online boutique, also proved popular.

Rebecca O’Keeffe of Interactive Investor said: “Many of our more engaged investors have a bias toward commodity stocks, and these exploration stocks are highly correlated with the underlying commodity prices.

“Earlier in the year gold and miners’ prices were driven sharply lower by the prospect of higher US interest rates in light of the likely tapering of quantitative easing. However, recent events in Syria have seen gold prices rise again as increased tensions in the Middle East have prompted the market to introduce a 'geopolitical risk premium’ into the price.”

The Isa rule change is attractive to certain investors because it allows them to benefit from the inheritance tax breaks attached to Aim investments as well as the other tax advantages associated with Isas.

Half year results due tomorrow and ticking up a bit on increased volumes.

10 September 2013 AIM:AMA / TSX:AMZ





Amara Mining plc

("Amara" or "the Company")



H1/Q2 2013 RESULTS



Amara Mining plc, the dual AIM and TSX-listed West African focused gold mining company, is pleased to announce its results for the quarter ended 30 June 2013 ("Q2 2013").



HIGHLIGHTS

Operational

· Feasibility Study ("FS") for Baomahun Gold Project ("Baomahun") delivered confirming robust financial returns with further optimisation work expected to be completed in Q4 2013

· Integration of Sega Gold Project ("Sega") in progress following receipt of Mining Licence - project is now fully permitted

· Sega mine plan re-optimised at a gold price of US$1,100 per ounce to generate strong cash flow in the near term - blast hole drilling has commenced and production is on track to begin in Q3 2013

· Metallurgical results from Yaoure Gold Project ("Yaoure") confirm simple, non-refractory nature of mineralisation and identify three potential processing routes - further resource update and Preliminary Economic Assessment ("PEA") expected in Q4 2013

· Gold production from Kalsaka Gold Mine ("Kalsaka") of 9,933 ounces, 5% increase on Q1 2013

· Production guidance for 2013 of 50-60,000 ounces is maintained



Financial

· Significant cost cutting measures and operating efficiencies implemented including:

o Rationalising of workforce - targeting a 25% decrease in headcount with an annualised saving of over US$1.5 million by year end compared to 31 December 2012

o Total package cuts for Board and senior/middle management with an annualised saving of over US$650,000

o Further savings targeted to reduce annual G&A cash costs by 25% compared to FY2012

o Drilling programme completed - exploration focused on low cost target generation work only

· Cash and liquid assets of US$18.1 million at 30 June 2013 - significant investment made in Sega integration, Baomahun FS and Yaoure exploration during the quarter



Peter Spivey, Chief Executive Officer of Amara, commented:



"In challenging market conditions it is easy to lose sight of the bigger picture. At the halfway point in the year, Amara has delivered two of its three objectives for 2013, with the completion of the Baomahun Feasibility Study and updated Mineral Resource at Yaoure, and we are well on track to successfully integrate Kalsaka and Sega in Q3. We have also implemented measures to enhance efficiency and reduce costs across the Company, examining every aspect of our business from Board salaries to transport costs at site. The re-optimisation of the Sega mine plan is an important step, generating stronger production and robust cash flow for Amara in the near term at a US$1,100 gold price. We are making strong progress towards our two further targets for H2, completing the optimisation work for a smaller pit and plant at Baomahun and delivering the PEA for Yaoure, and we maintain our full year production guidance. We remain well-positioned to deliver value for our shareholders."



The Company will host an analyst conference call at 9:30am UK with a simultaneous webcast. Dial in details are as follows:



Telephone number (toll free from UK):
0800 368 0649

Other parts of the world:
+44 (0) 203 059 8125

Passcode:
Amara




To log into the webcast, which will be aired simultaneously, please go to the homepage of the Company's website: www.amaramining.com. The webcast will subsequently be available for playback on this link.

Tried the "Presentation" and all I got was a PDF of slides. Oh dear, and I was hoping to hear/see Directors in full voice.

Seems to be difficult to find their website "AMARA MINING dot COM, although I didn't see any link on several RNS . . . . ASKjeeves was amazingly quiet when asked, but wanted me to buy .... at low cost, along with Toms thoughts on MINING in general.

I wonder why this site doesn't make the LINK much easier to find...?


This isn't a Webcast in my opinion, as it's a lot of work reading small slides....

hangon - it's www.amaramining.com and you just click on the Investor Relations, then Presentations - simples!

Reiterated buy with a target price of 30p.

10 Sep 2013 Amara Mining AMA Canaccord Genuity Buy 17.88 19.50 30.00 30.00 Reiterates

Amara starts trucking from Sega
StockMarketWire.com
Amara Mining has begun trucking material from its Sega gold project in Burkina Faso to the neighbouring processing plant at its Kalsaka gold mine.

Sega is approximately 20km from Kalsaka and was acquired by Amara from Orezone Gold Corporation in the second quarter of 2012.

Since then, Amara has successfully permitted the project, receiving the mining licence on 18 July 2013.

The first material from Sega reached Kalsaka yesterday (16 September).

The average head grade of the Sega material is 2.41g/t, a 113% increase on the head grade achieved from the Kalsaka ore in H1 2013 (1.13g/t.

Chief executive Peter Spivey said: "With the commencement of trucking, we are just days away from processing the first Sega material and stacking it on the heap leach pads at Kalsaka.

"We are firmly on track to deliver on our promise of successfully integrating the two projects and this is expected to strengthen production and reduce costs, as a result of the higher head grade of the Sega material.

"Production will continue in Burkina Faso in the near term and we remain focused on our strategy of using our cash flow to underpin our growth assets."

17 Sep 2013 Amara Mining AMA Westhouse Securities Buy 18.25 18.25 50.00 50.00 Retains

Target 50p

Price of gold starting to go up again now.

That was a huge announcement by the Fed yesterday (18th) to keep monetary policy the same and the effect on the markets was immediate and dramatic. To say that this announcement was gold friendly would have to be one of the understatements of the year. Gold soared making its biggest one-day gain for 15-months, silver rose sharply and Precious Metals stocks took off like a rocket. This action marks the start of a major sectorwide uptrend. The dollar tanked as the Fed’s ongoing policy amounts to a continuation of its long-term policy to destroy the currency that has actually been in force with great effect since 1913 – just ask an old timer how much coffee he could buy for a dollar.

On gold’s chart we can see that the dramatic rise yesterday on the Fed’s surprise announcement means that it is at last about to haul itself up out of the long and tedious Head-and-Shoulders bottom pattern that has been forming for many months. Breakout from this pattern will be signaled by its breaking out above the black “neckline” shown and then above the resistance level a little above that near to the late August highs centered on $1425. Once it breaks out from the base pattern it will be free to advance, but still has to contend with the strong resistance level in the $1550 area at the lower boundary of the large intermediate top area that it broke down from back in April. Volume was good on yesterday’s rally which is another positive sign.


The 13-year chart for gold shown below is an ongoing source of good cheer for gold bulls, as it shows that gold remains in an unbroken long-term uptrend despite the decline of the past 2 years that has had so many rattled and turned into bears. From this chart it is very clear to see that gold is at an excellent to turn up and start a major new uptrend that should take it comfortably to new highs, although it will have to contend with resistance from the earlier intermediate top area on the way up.




Gold COTs (not shown) are still quite strongly bullish, although they have now moderated somewhat following their extremely bullish readings of late June.

The gold Public Opinion chart shown below makes plain that the public hold gold in low esteem at this time, which is of course bullish, as the majority are always wrong.




The Rydex Traders have a very low weighting in the Precious Metals now, which is another big positive, as they are a renowned contrary indicator.




The latest revelations by the Fed are of course very dollar bearish, and yesterday it plunged. They don’t care about that of course as they have been working assiduously to destroy the currency since they started in 1913, and have been spectacularly successful. Our 9-month dollar index chart shows that it crashed a support level yesterday and is headed towards the lower boundary of a bearish “bullhorn” pattern.




The longer-term 6-year chart shows the dollar index descending from a large bearish Dome pattern, and while there some support in the 78 – 79 area, it will probably breach that in fairly short order and head lower towards the 73 – 74 area. This is of course good news for gold and silver.




Finally, Precious Metals stock indices look mega-bullish. The GDX took off like a rocket yesterday (18th) on huge record volume. This is viewed as marking the start of a major sector uptrend. The first hurdle on the way up is the strong resistance level in the 31 area, but yesterday’s action suggests that it will have little trouble vaulting this, and once it gets above that and its still falling 200-day moving average, it will be on its way. There are many who will be put off buying today and in the near future because they missed yesterday’s big jump and consider the sector short-term overbought. They will wait for a pullback, but there is unlikely to be one of significance after the sort of action we saw yesterday. Instead the way to look at it is that this major sector uptrend is still in its infancy, so the fact that prices were lower before Wednesday’s jump is irrelevant.




The Fed’s refusal to change course makes plain that all the talk of tapering is just that – talk. The fact of the matter is that they have passed the point of no return long ago, and given the current debt structure any attempt to wind down market support will result in a systemic implosion, and they know it. This is why they are carrying on as before. While Hot Money obviously likes this state of affairs, someone is going to pick up the tab for all this, and that someone is the guy at the bottom of the food chain, the man in the street. The Fed’s maintenance of its current course will result in the dollar continuing to bleed and this will feed through into accelerating inflation in the US. This is bad news for the ordinary Joe, but good news for Precious Metals sector investors.

-- Posted Thursday, 19 September 2013 | Digg This Article | Source: GoldSeek.com

PRESENTING AT THE LONDON INVESTOR SHOW
RNS
RNS Number : 0340R
Amara Mining PLC
22 October 2013



22 October 2013 AIM: AMA / TSX: AMZ





Amara Mining plc
("Amara" or "the Company")



PRESENTING AT THE LONDON INVESTOR SHOW



Amara Mining plc, the AIM-listed West African focused gold mining company, is pleased to announce that it will be presenting at the London Investor Show at London Olympia on Friday 25 October 2013 at 10:00am.



Amara's Executive Chairman, John McGloin, will provide an overview of the Company's strategy of using the cash flow generated from its Kalsaka/Sega gold mine in Burkina Faso to underpin the development of its growth assets, Baomahun in Sierra Leone and Yaoure in Côte d'Ivoire. He will also discuss the key targets achieved by Amara during the year to date and the milestones the Company expects to reach during Q4 2013, namely the delivery of the Yaoure Mineral Resource update and the results of the Baomahun optimisation work.



The management looks forward to meeting existing and prospective investors. For further information on the schedule for the event, and to register, please visit http://www.londoninvestorshow.com.

Share Purchase Agreement with Amlib Holdings Plc
RNS
RNS Number : 4104S
Amara Mining PLC
07 November 2013



7 November 2013 AIM:AMA















Amara Mining plc

("Amara" or "the Company")



LONG TERM STRATEGIC INVESTOR, RDV CORPORATION, TO BOLSTER AMARA VIA SHARE PURCHASE AGREEMENT WITH AMLIB HOLDINGS PLC



Amara Mining plc, the AIM listed West African focused gold mining company, is pleased to announce that it has entered into a legally binding, conditional share purchase agreement (the "Agreement") with Amlib Holdings plc ("Amlib") pursuant to which the Company will acquire US$10 million cash, a drilling operation and three Liberian exploration licences (the "Transaction") for an aggregate value of US$11.0 million.



Amlib is a privately held gold exploration company with RDV Corporation ("RDV") as majority shareholder. RDV has invested in Amlib since 1999 and regards the Transaction as the optimal path to pursue its West African gold investment strategy. The experience of Amara's exploration team can assist to deliver maximum value from the Liberian assets, whilst Amlib's shareholders will benefit from exposure to Amara's broader growth portfolio. In addition to the three exploration licences, Amara will benefit from lower costs for its ongoing exploration across the region by utilising the drilling assets of Amlib (which have a net book value of US$1.6 million), together with the support of a new strategic shareholder in RDV.



HIGHLIGHTS:



· Partnership with long-term strategic investor, RDV, to underpin the development projects within the enlarged group

· Strongly capitalised with cash from Amlib of US$10 million, providing funds for the ongoing advancement of Amara's Baomahun Gold Project in Sierra Leone ("Baomahun") and the on-going exploration of Amara's Yaoure Gold Project in Côte d'Ivoire ("Yaoure")

· Acquisition of Amlib Drilling Services Liberia ("ADSL"), a wholly-owned subsidiary of Amlib, which has the potential to reduce the cost of drilling across Amara's portfolio of assets

· Acquisition of three prospective exploration licences in an emerging gold producing nation

· Purchase price to be satisfied through the issuance to Amlib of 51,846,782 ordinary shares of the Company ("Consideration Shares") with an aggregate value of US$11.0 million



Amara remains focused on delivering its targets for H2 2013 including the successful integration of the Kalsaka and Sega Gold Projects in Burkina Faso ("Kalsaka/Sega"), the results of the optimisation work for the smaller plant and pit scenario for Baomahun and the completion of the mineral resource update for Yaoure.



Peter Spivey, Chief Executive Officer of Amara, commented:



"Combining Amara's experience in exploring, developing and operating gold mines with RDV's financial support will allow us to realise the growth opportunities within the enlarged group. The acquisition of three grassroots properties in Liberia provides additional exploration potential for the future, while our core focus remains on delivering our key targets for H2 2013 at Baomahun, Yaoure and Kalsaka/Sega. Through Amara's partnership with RDV, we will be able to progress both Amara and Amlib's assets to benefit all shareholders."



Jerry Tubergen, President and Chief Executive Officer of RDV, commented:



"RDV has invested in West African mining for over a decade and we have close ties to the Amara management team through Amara and Amlib's mutual non-executive director, Geoff Stanley. We have been impressed with Amara's ability to bring profitable mines into production and progress its growth projects along the development pipeline and we believe that moving Amlib's assets into the Amara portfolio is the best way to deliver returns on our investment. We look forward to strengthening the relationship with Amara as the Company grows into a larger, more sustainable producer."



Management Conference Call



The Company will host a conference call for analysts and investors at 9:30am UK time today. Dial in details are as follows:



Telephone number (toll free from UK): 0808 237 0030

Other parts of the world: +44 (0)203 139 4830

Passcode: 22430179#



A second conference call will be hosted at 9:30am EDT/2:30pm UK time today for North American analysts and investors. Dial-in details are as follows:



Canada 1866 404 5783

USA 1866 928 7517

Other parts of the world +44 (0)203 139 4830

Participant PIN Code: 22430179#



A presentation to accompany the conference calls is available at www.amaramining.com

Cantor Fitzgerald retains buy with 63p target.

07 Nov 2013 Amara Mining AMA Cantor Fitzgerald Buy 14.50 13.25 63.00 - Retains

Westhouse Securities target - 50p

13 Nov 2013 Amara Mining AMA Westhouse Securities Buy 14.63 14.50 50.00 50.00 Retains

Amara Mining positioned 'very strongly'
StockMarketWire.com
West African focused gold miner Amara Mining believes its long-term strategic partnership with RDV Corporation positions the company very strongly for the future.

The group says the partnership with the US-based wealth management company aims to bolster Amara through a share purchase agreement with Amlib Holdings plc and underpin the development projects within the enlarged group. Completion is expected on or around 26 November.

The group says other highlights during the three months to the end of September include:

· Optimisation work for Baomahun Gold Project ("Baomahun") continues to progress - update expected to be delivered in January 2014

· Metallurgical testwork confirms Yaoure Gold Project ("Yaoure") mineralisation is simple, non-refractory and amenable to a variety of processing methods - results received in Q3 2013 demonstrate robust recoveries for low grade samples

· Further Yaoure Mineral Resource update expected in Q4 2013, with preliminary economic assessment in Q1 2014

· Successful integration of Kalsaka gold mine and Sega gold project completed - ramp up continues with 56,000 ounces annualised production rate achieved since the start of November 2013

· Q3 2013 gold production from Kalsaka of 8,008 ounces reflecting cessation of operations - full year 2013 production is expected to be approximately 40,000 ounces

· Production is anticipated to strengthen significantly in 2014 due to the impact of the higher grade Sega ore - 2014 production from Kalsaka/Sega is expected to be 60,000-70,000 ounces

· Cost cutting measures taking effect, with a 29% decrease in corporate G&A in 9M 2013 on 9M 2012 and a 28% decrease in exploration expenditure in 9M 2013 on 9M 2012

Chief executive Peter Spivey said: "The formation of a long-term strategic partnership with RDV positions Amara very strongly for the future.

"Whilst it has been challenging delivering the Sega project to a tight timeline, I am proud that our team in Burkina Faso has successfully completed the integration of Kalsaka/Sega, achieving our final key milestone for 2013, and I look forward to production ramping up further.

"Our growth assets continue to progress along the development pipeline, underpinned by stronger cash flow from Kalsaka/Sega in 2014 and the financial support of RDV and Samsung.

"I anticipate the further Yaoure mineral resource update and the results of the Baomahun optimisation work will continue to demonstrate the optionality available to Amara within our growth portfolio."

Amara Mining PLC SIX MILLION OUNCE MINERAL RESOURCE AT YAOURE


TIDMAMA

RNS Number : 4469V

Amara Mining PLC

13 December 2013

13 December 2013 AIM:AMA

Amara Mining plc

("Amara" or "the Company" or "the Group")

SIX MILLION OUNCE MINERAL RESOURCE AT YAOURE GOLD PROJECT

Amara Mining plc, the AIM-listed West African focused gold mining company, is pleased to announce an updated NI 43-101 compliant Mineral Resource estimate for its 100% owned Yaoure Gold Project ("Yaoure") in Côte d'Ivoire.

HIGHLIGHTS

-- Inferred Mineral Resource of 5.5 million ounces (133Mt at 1.29g/t) representing an increase of 3.3 million ounces (1,2)

-- Indicated Mineral Resource of 0.8 million ounces (20Mt at 1.20g/t) representing an increase of 0.3 million ounces(1, 3)

-- Mineral Resource remains robust at a lower gold price and includes 0.4 million ounces of oxide material (9.4Mt at 1.33g/t) potentially amenable to low cost heap leach processing (1)

-- 71% increase in Amara's global Mineral Resources to 3.7 million ounces Measured and Indicated and 6.4 million ounces Inferred

-- Minimal discovery cost of US$3.50/oz(4) versus average industry discovery cost in Africa of US$16/oz (5)

-- Metallurgical testwork has confirmed the simple, non-refractory nature of the gold mineralisation and its amenability to a range of processing options - results received in Q3 2013 also demonstrate robust recoveries for low grade samples

-- Location of Yaoure is highly advantageous due to close proximity to Kossou dam, which offers cheap hydro-electric power ("HEP") and abundant water, excellent roads and accommodation

-- Preliminary Economic Assessment ("PEA") is anticipated to be completed in Q1 2014, focused on a large scale, long life carbon-in-leach ("CIL") or flotation scenario and a short-term heap leach opportunity

Notes

1. Using a 0.5g/t cut-off and a US$1,500 pit shell. At a 0.8g/t cut-off, the Yaoure Mineral Resource contains 0.6 million ounces Indicated (13.2Mt at 1.48g/t) and 4.6 million ounces Inferred (85.7Mt at 1.65g/t)

2. Previously 2.2 million ounces Inferred using a 0.5g/t cut-off or 1.7 million ounces Inferred at a 0.8g/t cut-off

3. Previously 0.5 million ounces Indicated using a 0.5g/t cut-off or 0.3 million ounces Indicated at a 0.8g/t cut-off

4. Based on total Yaoure exploration expenditure of US$22m between Q4 2011 and H1 2013 (2011: US$1.6m, 2012: US$14.0m, 2013: US$6.4m)
5. Source: MinEx Consulting, July 2012
Peter Spivey, Chief Executive Officer of Amara, commented:

"The delivery of the latest Mineral Resource update for Yaoure has confirmed the project as an important part of Amara's portfolio, representing our largest resource in West Africa and the largest deposit in Côte d'Ivoire. It has also increased the Company's global Mineral Resources by over 70% at a minimal discovery cost for the updated Yaoure resource of just US$3.50/oz. It is strategically important that the resource remains strong at lower gold prices, with a robust overall grade of 1.86g/t at a 1g/t cut-off. This demonstrates Yaoure's viability in the current challenging market conditions.

"The next milestone for the project is the completion of the PEA in Q1 2014, which will primarily explore the potential for large scale, long-term production from Yaoure's substantial sulphide resources. The PEA will also evaluate the potential for Amara to maintain its status as a heap leach producer beyond the Kalsaka/Sega minelife through the additional oxide resources defined at Yaoure, offering near-term cash flow. I am confident that it will further demonstrate the project's robust economics as a result of the large-scale, low strip ratio, simple metallurgical nature of the deposit and the excellent existing infrastructure in Côte d'Ivoire."

Tipped as a buy in shareprophets last week.

2013 PRODUCTION RESULTS FOR KALSAKA/SEGA GOLD MINE
RNS
RNS Number : 0062Y
Amara Mining PLC
20 January 2014



20 January 2014 AIM:AMA















Amara Mining plc

("Amara" or "the Company")



2013 PRODUCTION RESULTS FOR KALSAKA/SEGA GOLD MINE



Amara Mining plc, the AIM-listed West African focused gold mining company, is pleased to announce the production results for its Kalsaka/Sega Gold Mine ("Kalsaka/Sega") in Burkina Faso.



Highlights



· Full year production of 42,348 ounces at Kalsaka/Sega

· 86% increase in production to 14,926 ounces in Q4 2013 compared to previous quarter (Q3: 8,008 ounces) as higher grade material from Sega is realised

· Robust financial position - cash and liquid assets of US$20.0 million at year end

· 2014 production guidance from Kalsaka/Sega of 60,000-70,000 ounces



Peter Spivey, Chief Executive Officer of Amara, commented:



"2013 was a challenging year for the gold sector and it's testament to our exploration, operational and corporate teams that we delivered all three of our key targets: the successful integration of Kalsaka and Sega, the completion of the Baomahun Feasibility Study and the delivery of a Mineral Resource update (six million ounces) for Yaoure. We are pleased to begin the New Year by announcing that our revised FY2013 production guidance has been exceeded, despite the lower grades we encountered as Kalsaka reached the end of its life and the delay in commencing production from Sega, and we look ahead to continued stronger production in 2014 as a result of the higher grade Sega material."



Kalsaka/Sega Production







Q4 2013
FY 2013

Ore mined
(Kt)
443
1,228

Waste mined
(Kt)
1,354
5,615

Ore processed
(Kt)
375
1,359

Average ore head grade
(g/t)
1.77
1.29

Gold production
(oz)
14,926
42,348

Average realised price sold
(US$/oz)
1,194
1,339




As anticipated, Q4 2013 was the strongest quarter of the year for Kalsaka/Sega as the higher grade material from Sega was realised. The average headgrade of the Sega material stacked was 1.77g/t and this is expected to increase as Amara continues to access higher grade areas. Amara expects to generate robust cashflow in 2014 and full year production guidance for Kalsaka/Sega is 60,000-70,000 ounces.

EVENING OF PRESENTATIONS FOR PRIVATE INVESTORS
RNS
RNS Number : 6125Z
Amara Mining PLC
10 February 2014



10 February 2014 AIM:AMA







Amara Mining plc

("Amara" or "the Company")



EVENING OF PRESENTATIONS FOR PRIVATE INVESTORS



Amara Mining plc, the AIM-listed West African focused gold mining company, is pleased to announce that it will be hosting an evening of presentations for private investors, alongside two other gold mining companies: Aureus Mining plc and Minera IRL Limited. The event will take place at the Armourers' Hall (81 Coleman Street, London, EC2R 5BJ) on Tuesday 18 February 2014 at 18:00 for an 18:30 start and will finish at approximately 21:00.



The management of Amara will provide an overview of the Company's strategy of using the cash flow generated from its Kalsaka/Sega gold mine in Burkina Faso to underpin the development of its core growth assets, Baomahun in Sierra Leone and Yaoure in Côte d'Ivoire. They will also discuss the key targets achieved by Amara in 2013, including the announcement of a six million ounce Mineral Resource at Yaoure, and the milestones the Company expects to reach in 2014, namely the delivery of a Preliminary Economic Assessment for Yaoure.



The management looks forward to meeting existing and prospective investors after the presentations when refreshments will be provided. For further information on the event, including details of how to register, please visit:

http://www.amaramining.com/DocumentDownload.axd?documentresourceid=304

Peter Schiff gives CNBC a bit more than they bargained for in this interview in which CNBCS leads off with What is Wrong With Gold?
Schiff tells CNBC viewers:
As soon as most Wall St traders come to terms with how wrong they are about the true state of the US economy and what the Fed is going to do, they will be rushing back to gold…Imagine what would happen if the Fed tried to sell the $4 trillion in mortgage bonds it holds? We are headed right back into recession!…The Fed is going to come back with an EVEN BIGGER QE!
At some point, gold is going to go straight up, it will make a moonshot. By the time the crowd figures it out, its going to be very expensive to buy gold!

Ticking up, along with the price of gold. Immediate target 17.2p, then 24p.

PEA confirms strong returns for Yaoure, says Amara
StockMarketWire.com
A preliminary economic assessment for Amara Mining's 100%-owned Yaoure gold project in Côte d'Ivoire has confirmed strong financial returns.

Amara says the PEA demonstrates that Yaoure is a compelling gold development project with an internal rate of return of 32% and post-tax net present value of US$688m based on a discount rate of 8% and a gold price of US$1,250 per ounce.

Other highlights include:

· Average annual production of 325,000 ounces over a 12 year initial life of mine ("LOM") from a single open pit containing 4.2 million ounces

· LOM average total cash cost (including royalties and refining) of US$655 per ounce and all-in sustaining cost of US$691 per ounce

· Plant and infrastructure capital cost of US$274m for an 8 million tonne per annum ("Mtpa") plant, with a contingency of US$42m and an additional US$92m for an owner-operated mining fleet

· Rapid total payback period of 2.4 years

· Significant exploration upside opportunity with potential to increase 6.3 million ounce mineral resource by targeting 'information gaps' within the US$950 pit shell to reduce the overall strip ratio (currently 5.2:1)



Story provided by StockMarketWire.com

Gold price on the rise again, 1373 at the moment.

Gold Marches Higher on Safe-Haven Bid

by Peter A. Grant

March 13, AM
(from USAGOLD.com) --
Gold jumped to another six month high of 1374.99 in overseas trading on Thursday, and remains well bid intraday. The continued escalation of tensions in Ukraine and ongoing growth risks in China remain key driving forces, along with the positive technical picture.

The rhetoric between the western allies and Russia continues to intensify as the Crimean referendum draws nearer. U.S. Secretary of State John Kerry warned that a "serious series of steps" would be initiated against Russia if they proceed with the referendum, while President Obama pledging to "stand with Ukraine." German Chancellor Angela Merkel cautioned that Russia risks “massive” political and economic damage.

Such threats have thus far failed to soften the Russian's position. Putin and Foreign Minister Lavrov have warned western leaders not to take "hasty and reckless steps” that would damage relations.

If Crimea is successfully annexed, there is speculation that Russia may be emboldened to set its sights on Eastern Ukraine. Yet another Russian "military exercise" near the Ukrainian border, ratcheting tensions up even further. The BBC reports that the Russian defense ministry confirmed the exercise would include "artillery such as rocket launchers and anti-tank weapons".

The latest round of Chinese data all missed expectations, adding to worries about growth risks in the world's second largest economy. February retail sales, industrial production and fixed investment all fell more than expected.

As long as Ukraine and China continue to dominate headlines in the financial press, gold will continue to be underpinned by safe-haven interest. These gains also lend technical credence to the rally, as key chart levels are negated. The next level that everyone seems to be eying is the 1433.85 high from last August.

Doodles id do a bit of research on ABG and HGM.

You MIGHT like the results............in my humble opion.

Mind do forget I am a contrarian.

Thanks gf, will do.

Cheers no probs but dont forget this is a beaten up sector so you have to take that into account and it doesnt make for easy/nice reading but dont ever forget .........he that dares ....................

PS ...doodles if you do find any other miners you think are worth a further look please lert me know here or on a e-mail........... cheers mick

Amara Mining plans £22m fundraising
StockMarketWire.com
Amara Mining is to raise more than £22m for further exploration at its Yaoure gold project in Côte d'Ivoire and to optimise Baomahun in Sierra Leone.

Amara plans a placing and subscription of 107,058,823 shares to raise £18.2m, before expenses, and an open offer of 24,468,439 shares to raise up to £4.2m at a price of 17.0p per share.

The completion of the placing is conditional upon shareholder approval. The placing is not conditional upon the open offer.

Amara says it is fully funded to the point of delivering a pre-feasibility study the Yaoure project in the first quarter of 2015.

The net proceeds of the placing will be used primarily to continue to advance Yaoure to the delivery of PFS.

The company delivered a preliminary economic assessment on 12 March, which confirmed the project's compelling economics and indicated that Yaoure should be taken to the next level of engineering study and economic assessment.

Amara says that at a gold price of US$1,250 and a discount rate of 8%, Yaoure delivers a post-tax internal rate of return of 32% and a post-tax net present value of US$688m.

The net proceeds of the placing will also be used to further optimise Baomahun, allowing Amara to continue to unlock the value of the project for all stakeholders. Following a geological review, Amara is planning to conduct a small-scale, highly targeted drilling campaign, which has the potential to demonstrate greater continuity of the high grade mineralisation of the deposit, increasing in-pit resources and de-risking the project.

This drilling will also help Amara to gain a more thorough understanding of Baomahun's underground opportunity, which has the potential to double the life of mine to 20 years with average production of 90,000 ounces/annum.

Further work will also be undertaken to review the proposed capital expenditure on the project to explore opportunities for a more cost efficient approach.

Executive chairman John McGloin said: "With the financing of the Yaoure gold project through to the pre-feasibility study completed, I am delighted with the support we've received from our existing shareholders and new shareholders to continue unlocking the value of our growth pipeline. It demonstrates that Yaoure is truly a tier one asset, and with its production profile of 325,000 ounces/annum over a 12 year life, it and has the potential to be one of the top 10 gold mines in Africa.

"There is significant exploration upside potential at Yaoure and the placing and open offer will ensure we are fully capitalised to add further ounces to the project's 6.3 million ounce resource base and to increase the level of confidence in the resource by upgrading it to the Indicated category and a portion to Measured. We will also continue the optimisation of Baomahun, maintaining a second strong growth opportunity for Amara. "The strong support, which the fundraising received, is testimony to the quality of Amara's portfolio and we felt it was particularly important to give our significant retail investor base the opportunity to participate in Amara's growth, as well as our institutional investors, in recognition for their loyalty over the past challenging year.

"I look forward to delivering drilling results for Yaoure throughout the next two quarters, followed by two mineral resources updates for the project in Q3 and Q4 2014."

Mining and Resources Investor Evening - London - 24th April 2014



The Shares Magazine 'Mining and Resources Investor Evenings' are firmly established in institutional and private investors diaries, so we are proud to offer you another chance to meet, hear from and ask questions of key senior management and directors of selected companies in the mining, oil and gas sectors.

The evening offers an unique opportunity not only to hear about the latest plans from some of the most exciting companies in their sectors, but also to put your questions to the people that matter. What is more, there is a free drinks and canapés reception where you can mingle with industry leaders and fellow investors. Make sure you don't miss this unique opportunity to get the answers you need from the people who matter.

The evening conference is tailor-made for private investors and professionals who already have exposure to mining and resources stocks, or anyone who is considering putting money to work in these exciting and dynamic sectors.

Tickets are completely free but places are strictly limited so register now.

REGISTER NOW

Date: Thursday 24th April 2014

Venue: Novotel Tower Bridge, 10 Pepys Street, London EC3N 2NR

Registration: 6.00pm

Presentations: 6.30pm followed by a drinks/canapés reception

Companies Presenting:


Amara Mining (AIM:AMA)

http://www.amaramining.com

Amara Mining plc is a gold developer-producer with assets in West Africa. With over 10 million ounces of resources, it has the largest resource base of any London-listed junior mining company and its Yaoure Gold Project has the potential to be one of the top 10 largest gold mines in Africa. A Preliminary Economic Assessment was delivered for Yaoure in Q1 2014, generating compelling financial returns including an IRR of 32%. Besides Yaoure, Amara has a producing mine, Kalsaka/Sega, that is forecast to produce 60-70,000oz in 2014 and a second strong growth opportunity in its Baomahun Gold Project.

Speaker: John McGloin, Executive Chairman


International Mining and Infrastructure Corporation (AIM:IMIC)

http://www.imicplc.com

International Mining and Infrastructure Corporation plc (“IMIC”), listed on the AIM Market of the London Stock Exchange, is focused on unlocking value opportunities in the African iron ore space which are currently constrained by the lack of infrastructure solutions. IMIC is seeking to establish an important asset-ownership position in the West and Central African iron ore mining sector through investment in junior miners and related infrastructure.

Speaker TBC

Leni Gas & Oil (AIM:LGO)

http://www.lenigasandoil.com/

During 2013 Leni Gas and Oil plc ("LGO") continued to build production potential and long term capacity in Trinidad.

Speaker: Neil Ritson, CEO

Tower Resources (AIM:TRP)

http://www.towerresources.co.uk/

Tower Resources plc is an AIM-listed, London-based, independent oil and gas exploration company with a regional focus on sub-Saharan Africa

The Company holds a 30% working interest in a licence comprising three blocks offshore Namibia through its operating subsidiary, Neptune Petroleum (Namibia) Ltd., and a 50% interest in three contiguous licences, onshore and offshore, in the Sahawari Democratic Republic through its subsidiary Comet Petroleum Ltd.

Speaker: Graeme Thomson, CEO

MORE COMPANIES TO BE ANNOUNCED

REGISTER NOW

DRESS CODE: Business attire

Nearly a year since last Posting here . . . . Zzzz

Try another message board , i think they have a lot of low cost gold but no money to mine it , trying to get a deal with another company to mine it, i think that is the problem

Rights Issue, maybe? - they've been saying "...there's Gold in them thar Holes..." for rather too long . . . Get digging!
If yr right aldwick, ie that money is tight, then you'd think there would be plenty of takers to start the rich metal flowing . . . . but it seems not.
However, the Rule in the City is to leave retail investors out of any profit opportunity, so maybe [ AMA ], will raise funds by Dilution....or a Loan at an unattractive Rate - that was the downfall of CMR ((DYOR)).

Oh deary. . . . . . . . . sp at 2 June 2015, abt 14p.

I also own AMA.

Looks like a Boost for shareholders ( 29 Feb 2016 )- DYOR----to join a bigger business - perhaps this is what AMA needed - it looks like a Done Deal, - so we shall have to wait and see . . . .

Any contrarian Views...?

Now merged with Australian PERSEUS based in Melbourne.
Any views here?
Amara [AMA] will disappear from this site . . . but shouldn't still we have a platform (here), to discuss our investment?
Can't say I'm very impressed with AMA Execs, who failed to get anything of value for shareholders..... which led to a funding issue and this Merger.

EDIT ( 20Oct2016) - could MoneyAM please put Perseus into the searchable words listing? Just rec'd a voting form and couldn't (yeh Already!) remember this had been Amara Gold, which was Cluff Gold originally.
At the time of the t/o it was suggested this AIM ( really?) listed co - was also listed in Toronto ( and probably Australia, why not?).....might list on AIM in London . . . but since they don't appear in the UK Press, it's difficult to know their plans. Reading some alternative source, it seems P has interests mainly in Africs - prob Amara's but little else. . . . anyone really know?