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

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