LONDON (Alliance News) - Amara Mining PLC Monday said it is fully-funded to deliver an initial feasibility study for its Taoure Gold Project in Côte d'Ivoire in the first quarter 2015 following a placing and open offer which raised USD30.5 million.
The West Africa-focused gold mining company said a Preliminary Economic Assessment for Yaoure demonstrated that a number of throughput scenarios generate compelling returns, underlining that the project is highly flexible and resilient at low gold prices
AIM-listed Amara said an in-fill drilling campaign has started at Yaoure, with drilling results expected in the second quarter 2014 and two mineral resources updates expected in the third quarter and second quarter 2014.
Overall, the company said its production guidance of 60,000-70,000 ounces for the full year is maintained although production is now expected to be towards the lower end of the range
Amara Mining shares were quoted flat at 17.00 pence Monday midday.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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