armature
09 Oct 2015
Re: Wake up AMA The directory is buying is a good indicator.
forwardloop
18 Sep 2015
info [link]
Paitech
25 Jun 2015
Amara plans one of AfricaÂ’s biggest gold mines Share Amara plans one of Africa’s biggest gold minesMining here goes back to 1880,” says Peter Brown, the chief operating office of Amara Mining (LON:AMA).Feet firmly planted in the red African earth, he stands on the lip of a hill overlooking an old mining pit at Amara’s Yaoure gold project in Cote D’Ivoire, the distant outline of village huts shimmering in the distance across a valley beyond.“I have a record back to 1880,” he adds. “Although probably mining by the locals goes back even further.”The most recent significant effort was undertaken by Amara itself - then trading under its former name of Cluff Gold - and it entailed the excavation of the pit that Brown is now standing in front of.At that time Yaoure was called Angovia, after the local village, and it yielded gold production in the tens of thousands of ounces.Now, though, the plan is completely different, and is much, much more ambitious.As the hot sun beats down, Brown pauses to light up an old pipe, and then proceeds to point out various drilling sites inside the old pit in front of him.“The old Cluff pit is now called Yaoure Central,” he says. “All our drilling is in Yaoure Central.”The difference this time round is that Amara isn’t targeting the easy-to-access oxide ore at surface. That’s all gone.This time round Amara is targeting more than six and a half million ounces of gold underground, a more complex mining task but potentially a much more lucrative one too.The plans are to mine at a rate of around 247,000 ounces per year over a ten year mine life, with all-in sustaining costs running at a very attractive US$648 per ounce.Given that the current gold price is still comfortably above US$1,150 per ounce, that allows for an awful lot of margin.How is Amara able to mine so cheaply, where peers regularly see costs punching through the US$1,000 per ounce mark? The answer is simple – infrastructure.“I’d challenge you to find anywhere in West Africa with such good infrastructure,” says Amara executive chairman John McGloin back in the site office.His audience is the same delegation that Brown addressed earlier, and consists of investors and journalists who have travelled up that morning from the commercial capital of Cote D’Ivoire, Abidjan.The journey, almost all of it on paved roads, has taken only a couple of hours and in the final stretch the party has crossed over the dam that blocks the Bandama River to create Lake Kossou, the largest lake in Cote D’Ivoire.This dam supports one of the most significant hydroelectric projects in West Africa, as McGloin is keen to emphasise.“The dam is a major trunk for power”, he says. “The rate is US8 cents per kilowatt hour.”There are many West African mining companies reliant on on-site diesel power that can only dream of power at such a price. Their costs show why.But Amara faces different challenges, because this mine is one of the biggest gold mines around, it won’t be cheap to build. A recent pre-feasibility study put the pre-production capital costs at around US$447mln, money which won’t be easy to find in capital markets no longer enamoured of mining stories.Nonetheless, inside the company there is a bullishness that tells its own story.Staff are running a book on which of the following two outcomes is now the most likely: a takeout before mining commences, agreed at an attractive price, or a successful fund raising followed by production.McGloin is no stranger to capital markets and has in the past shown himself able to put together innovative forms of funding.Back in 2012 he signed up Samsung in an innovative funding deal that brought one of the world’s great electronic giants directly into the gold business.More recently the IFC, the investment arm of the World Bank, has expressed interest in helping to fund the project to the end of the bankable feasibility stage.Whether McGloin can repeat these successes on a much l
Jitter
19 Jun 2015
Re: PFS See RNS from 14th May.
walrog
12 Jun 2015
PFS I had an email from 'ALPHA' today saying they had received AMA's updated PFS this morning.I'm suprised that their has not been an RNS.
Cornishknocker
20 Apr 2015
well thats some pretty mazing news out this morning - fully funded until the end of 2016....
Cornishknocker
08 Apr 2015
Right, reading through the technical report issued, the positive news (Which I think we all know), is that this is an amazing prospect. The bad news is that to bring the confidence level up to a measured category is going to require what is a currently unplanned level of infill drilling. This level is required to produce a Final Feasibility Study and the costs are going to be astronomical. Realistically I do not believe that Amara are oing to be able to achieve this and will probably get swallowed up by one of the big boys who can readily access the funding required to bring this project to fruition.
ICB888
07 Apr 2015
Annual Report. Nice Rise A positive annual report from this very promising gold miner.6.8 million ounces is a lot of gold. This could be very attractive to a predator.
Cornishknocker
07 Apr 2015
prem
dotlink
06 Apr 2015
investing in sierra leone? think again www.thesierraleonetelegraph.com/?p=9029&cpage=1
dotlink
28 Mar 2015
this brought the sp down www.dailymail.co.uk/news/article-3014309/Entire-country-Sierra-Leone-shut-Three-day-quarantine-begins-desperate-attempt-curb-new-Ebola-cases.html
ICB888
25 Mar 2015
Re: Massive Volume A poster on another bb says he has spoken to the company and the high volume is due to cross trades at the same price between two II's. So essentially one institution has transferred its holding to another institution.
ICB888
24 Mar 2015
Massive Volume 12.4 million is massive volume for Amara and just a small increase in sp.what's going on?
dotlink
22 Mar 2015
fresh news of ebola www.dailymail.co.uk/news/article-3006276/Sierra-Leone-s-President-ordered-three-day-lock-forcing-country-s-entire-population-stay-homes-try-stop-spread-deadly-Ebola.html
dotlink
18 Feb 2015
been a while that the platinum price is lower than the gold price, will there be a price correction
