|By Marketwired .||
|April 15, 2014 07:00 AM EDT|
LONDON, UNITED KINGDOM -- (Marketwired) -- 04/15/14 -- Amara Mining plc (AIM: AMA), the AIM-listed West African focused gold mining company, is pleased to announce its audited results for the year ended 31 December 2013.
- Three key milestones for 2013 achieved and Amara is now well-positioned for the next phase of its growth
- Preliminary Economic Assessment ("PEA") delivered for the Yaoure Gold Project ("Yaoure") with compelling returns, including a 32% Internal Rate of Return ("IRR") and a US$688 million Net Present Value ("NPV") at a gold price of US$1,250 and a discount rate of 8%
- 6.3 million ounce Mineral Resource update announced at Yaoure, growing Amara's total resources to 10.1Moz, the largest resource base of any London-listed junior gold mining company(1)
- 4.2 million ounces within a US$950 per ounce pit shell at Yaoure and significant exploration upside potential - 2014 in-fill drilling programme has commenced
- Strong financial position and fully funded to advance Yaoure to Pre-Feasibility Study ("PFS") in Q1 2015 following placing to raise £ 18.2 million (US$30 million) and open offer to raise £ 0.3 million (US$0.5 million)
- Feasibility Study ("FS") delivered for Baomahun Gold Project ("Baomahun") and first phase of optimisation work has demonstrated the transformational underground opportunity
- Further optimisation of Baomahun FS ongoing, including planning for a highly targeted drilling campaign to increase in-pit resources
- Kalsaka Gold Mine ("Kalsaka") and Sega Gold Project ("Sega") integrated in 16 months - rapid timeline from acquisition to production
- Production guidance of 60,000-70,000 ounces for Kalsaka/Sega Gold Mine ("Kalsaka/Sega") in 2014 at a total cash cost of US$900-1,000 per ounce
- Significant cost efficiency measures implemented to ensure Amara is well positioned to adapt to the current challenging market environment
Click on, or paste the following link into your web browser, to view the associated PDF document.