Amara Mining (AMA) has just announced the results of a Preliminary Economic Assessment (PEA) of its Yaoure gold project in the Ivory Coast. Its shares have raced ahead to 19p in response. Is that premature? I think not but caught up with Executive Chairman John McGloin to check.
Amara Mining (AMA) has announced an updated NI 43-101 compliant Mineral Resource estimate for its Yaoure gold project in Côte d'Ivoire – which represents a 71% increase in the company’s overall mineral resources; to 3.7 million ounces ‘Measured and Indicated’ and 6.4 million ounces ‘Inferred’.
Gold developer-producer in West Africa, Amara Mining (AMA) has announced that it has entered into a agreement to acquire $10 million cash, a drilling operation and three Liberian exploration licences for 51,846,782 new Amara shares (ostensibly $11 million). It is a cute deal.
Investment Case: Having made some less than flattering comments on what benefit shareholders in AIM and Canada-listed gold miner Amara Mining (AMA), the former Cluff Gold get from having Peter Hain MP on the board as a non-executive director, I sense the company’s Chairman John McGloin met up with me with some trepidation a couple of weeks ago.
There are some Non Execs who add credibility and there are some who are just a pointless cashburn – meet Peter Hain Labour MP for Neath and a Non Exec at Amara Mining (AMA) since March. Shareholders in this company have lost a packet so what does Hain bring to the table?
Amara Mining (AMA) has released results today which are truly dreadful. The world’s No 1 mining analyst (in that he is independent and is prepared to tell it as it is) Roger Bade of Whitman Howard sums up what is a truly dismal situation well. Bade writes.
With a market capitalisation of just £21.6 million I am tempted by this AIM and TSX listed gold play. And I note that directors of Amara (AMA), the company formerly known as Cluff Gold have been buying shares recently at 9-11p.
AIM listed Amara Mining (AMA) is the today’s entrant in the “fantasy world of feasibility studies” with an absolute corker relating to its Baomahun project in Sierra Leone. This is beyond a joke.
I first covered Amara (AMA) in February this year, denouncing the behaviour of the management. Back then it was trading at 42p. Today’s share price of 30.875p represents a nice return on the short side so when it again hit today’s list of 52 week lows my first question was: is there room for more?
I tipped Cluff Gold (CLF) in September 2011 at 96p on t1ps.com, the website I founded in 2000 and left three months ago to set up the Nifty Fifty website. Like most AIM listed gold shares Cluff has taken a beating, and now changed its name to Amara Mining (AMA), but the shares have rallied in recent days and are now at 63.25p following the release of a new resource estimate for the Baomahun project. Those who nibbled at 58.5p the other day after I published a detailed analysis here will be feeling reasonably happy.
I tipped Cluff Gold (CLF) in September 2011 at 96p on t1ps.com, the website I founded in 2000 and left three months ago. Like most AIM listed gold shares Cluff has taken a beating and the stock closed at 58.5p today after the release of third quarter numbers. To reflect a change of leadership the company has now changed its name to Amara Mining (AMA). That seems like a bit of wasteful corporate PR willy-waving to me but, ignoring that, it seems to me that the fundamentals look increasingly attractive for Cluff, sorry Amara, and that this is not reflected in the stock price. Here is why.
