The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Thanks Brian, I too have had concerns with this and raised the question with Katharine Sutton. Katharine is always very open, honest and responds to direct questions in relation to AMA Katharine Sutton, Head of Investor Relations Email: ir@amaramining.com 'Since John McGloin joined Amara he has reinvested half of everything he has earned from the company back into Amara through buying shares. Unlike some other companies, Amara does not issue its management shares as part of their salary packages nor did John get any founders shares (given that he isn’t a founder) so all of the 1.7m shares he owns were bought on market with his own money. While this may not sound like a huge amount for the Chairman/CEO to own, he has continued to buy tranches of shares throughout his time at Amara to support the price as much as possible and to show faith in the company at prices between 60p and 9p. He is also often limited by the company being in a closed period (i.e. before a big announcement he is not allowed to buy shares) but whenever he can buy shares, he usually does. Pete Gardner, FD, has also bought shares regularly and so has Peter Hain, one of our NEDs,'
Amara Mining plc, the AIM-listed West African focused gold mining company, announces that John McGloin, Chairman and Chief Executive Officer, acquired ordinary shares of 1 penny each in the Company ("Ordinary Shares") yesterday. Mr McGloin acquired in total 112,421 Ordinary Shares at 8.88 pence per share. Following this transaction, Mr McGloin and persons connected to him are interested in 1,672,406 Ordinary Shares representing approximately 0.40 per cent of the Company's issued ordinary share capital, all of which are held beneficially.
One day this will happen again and I think very soon - when more people are made aware of Amara Mining, this will rocket again soon...not long to go....and at these prices, bargain...its been said many times before. http://www.fool.co.uk/investing/company-comment/2014/08/13/why-amara-mining-plc-rocketed-this-morning/
Really good news - I like this comment from John, as I have not heard a starter pit mentioned before. 'The presence of ore from surface in the Yaoure Central zone also underlines the opportunity for a starter pit in the northern area, which can be mined at a low strip ratio and significantly reduces the need for pre-stripping. This is expected to yield an even more compelling project with robust financial returns and a lower capital requirement. '
Ive posted some research notes over the years, have a look at some of my posts, this should give you some ideas as to when we may get a rise. However, I also agree we do follow the POG and I am sure once POG does move north, this one will be at the top of the pile. If you look at the charts, once it gets going it moves quickly. May 2015 • PFS is a positive milestone for the company but it doesn't reflect the final project the company will build, this will be reflected in the Bankable Feasibility Study (BFS) which is due out next year • Amara has already started a drilling programme to upgrade some of the remaining Inferred ounces to the higher confidence Indicated category and these will be included in the BFS, which should further improve the economics • Share price may have dropped as some of the headline numbers look worse than the PEA (such as capex going up and head grade going down) but this was partly expected due to the rules of which resources you can and can’t include in a PFS. Plus optimisation work is still ongoing – these are not the final numbers for the project • Yaoure has the largest net present value (NPV) of any West African development project and it is the only one that has the potential to produce over 200,000oz/annum over a 10 year life • There are no concerns about funding at this stage – Amara has US$17.2m in cash not including the US$10m proposed investment from the IFC (so likely to be US$27m once that is finalised). This will take us to the point of a construction decision in H2 2016
There are suggestions that a Chinese devaluation of the yuan will mean that Chinese investors who have suffered from the stock market blowout and now fearful of further yuan depreciation/devaluation, will opt for gold,” wrote Richard Perry, market analyst at Hantec Markets in a research note Tuesday. http://www.marketwatch.com/story/gold-prices-reverse-losses-spurred-by-chinas-yuan-devaluation-2015-08-11
Ha ha well said Kiwi !!
http://www.cnbc.com/2015/07/27/why-it-could-be-time-to-buy-gold-miners-expert.html
Good timing, 12 month low...
In response to the Cluff Gold comment, if John McGloin hadn't taken over (renaming the company in the process) and redirected the strategy towards Yaoure then the company might have gone bankrupt last year when Kalsaka stopped production. Without Yaoure, all we would have had was Baomahun (which would have been on care and maintenance due to Ebola) and I doubt anyone would continue to invest in us for that at this time, so all of our investors may have lost everything. Whereas instead, as Amara and under John's leadership, we have the largest resource base of any London-listed junior gold company and the largest undeveloped gold asset in West Africa. When Algy Cluff stepped down Yaoure's resources were just 0.2Moz - John has increased them by 33 times and saved the company. We also have the strongest shareholder register of any gold junior, with some of the largest institutional investors as holders including Van Eck and Franklin Templeton. It's a very difficult market with the gold price low, but I'm sure once it rises, with John at the helm and his fantastic contacts throughout the industry, this will be a financially rewarding investment.
Totally agree...once gold picks up this one will rise.
Good read Geckoman, I fully agree with your thoughts. I posted some research about the John McGloin recently, his connections to Mark Bristow. 'In terms of John McGloin’s association with Randgold, John was an analyst before he joined Amara. When he first started work in the City, following a career as a resource geologist and then a consultant, he worked for Evolution Securities and began covering Randgold. It was a much smaller company then and just had one producing mine, which was a JV with AngloGold Ashanti. John tipped Randgold as a stock to watch and as a result formed a friendship and strong working relationship with Mark Bristow, Randgold’s CEO. As a result, Randgold named Evolution their broker and when John moved to Arbuthnot to start his own team, Randgold followed and gave them the brokership, even though Arbuthnot was a very small broker and by this time Randgold was a FTSE100 company. Then when John moved again to Collins Stewart, a bigger broker, Randgold followed again and named Collins Stewart their broker. John is well known in the City as the first analyst to recognise Randgold as being a ‘standout’ gold producer and he still has a strong relationship with Mark.'
Amara Mining plc, the AIM-listed West African focused gold mining company, announces that Pete Gardner, Finance Director, acquired ordinary shares of 1 penny each in the Company ("Ordinary Shares") on Friday 05 June 2015. Mr Gardner acquired in total 136,656 Ordinary Shares at 14.63 pence per share. Following this transaction, Mr Gardner and persons connected to him are interested in 1,136,765 Ordinary Shares representing approximately 0.27 per cent of the Company's issued ordinary share capital, all of which are held beneficially.
http://www.proactiveinvestors.co.uk/companies/news/108397/amara-plans-one-of-africas-biggest-gold-mines-108397.html '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.'
On some boards, people talk about codes...can anyone confirm why such odd trades would be placed?
Hi, I'm not in here, but parents have some shares for their pension. They asked me to look into this, what was the reason for the drop recently? Good time to buy in, I suspect.... Thanks
Amara Mining plc, the AIM-listed West African focused gold mining company, announces that Pete Gardner, Finance Director, acquired ordinary shares of 1 penny each in the Company ("Ordinary Shares") on Friday 05 June 2015. Mr Gardner acquired in total 136,656 Ordinary Shares at 14.63 pence per share. Following this transaction, Mr Gardner and persons connected to him are interested in 1,136,765 Ordinary Shares representing approximately 0.27 per cent of the Company's issued ordinary share capital, all of which are held beneficially.
I think this was missed... didn't see any posts on here. http://www.americanbankingnews.com/2015/05/16/amara-mining-plc-given-buy-rating-at-cantor-fitzgerald-europe-ama/
Yes my mistake, it is the 1st June.
Does this mean an uplift in the share price with many PI's reinvesting their dividend payments?