Amara Gold Output Largely Increased Q on Q

gold reserves

(Mineweb) London – AIM-listed Amara Mining (formerly Cluff Gold) has just broadcast gold output results for Q4 for its Kalsaka/Sega gold excavation procedures in Burkina Faso.

And, in general, the announced numbers should be advised affirmative for the West African gold miner with latest guidance well contacted, whereas it is significant to note that profits numbers will only be released with the quarterly financials a little subsequent.

Q4 gold yield was 14,926 ounces making an impressive total of 42,348 ounces for the full year.

Actually, Kalsaka/Sega is Amara’s sole making asset, but much of the shareholder interest in the company is due to its two key development projects – Baomahun in Sirrea Leone and, increasingly, on Yaoure in Cote d’Ivoire. Following the Q4 numbers, Amara has approximated its 2014 guidance for Kalsaka/Sega to be roughly 70,000 ounces and money charges are anticipated to decrease as the full affirmative influence of the higher degree Sega ore is appreciated. Amara states it expects to develop robust money flow at present gold charges this year.

The Q4 results were better than foreseen, up 86% quarter on quarter in periods of gold made – although it should be borne in brain that yield previous in the year had been adversely influenced by the Kalsaka mine seeing declining degrees as it reached the end of its life and a short hold up in bringing Sega output on stream and getting it up to capacity. Even so, Kalsaka/Sega continues a short life house (the deposit could be worked out this by the end of this year unless the mineable reserve can be extended and/or other satellite down payments can be accessed, and mined, economically. So Amara’s mid to long-term future is very much dependent on Baomahun – and possibly progressively so on Yaoure which is glimpsed as displaying great pledge.

In commenting on the newest figures, Peter Spivey, Amara’s CEO, documented: “2013 was a demanding year for the gold part and it’s testament to our exploration, operational and business teams that we consigned all three of our key targets: the thriving integration of Kalsaka and Sega, the culmination of the Baomahun Feasibility Study and the consignment of a inorganic asset revise (six million ounces) for Yaoure.