Sep 03rd 2012 - Edison Investment Research today published a report on Amara Mining (AMA.L, LSE:AMA, LON:AMA) entitled "Grade Up; Costs Down; Re-valued". In summary, the report says:
In its Q2 results statement, Cluff Gold reported a 29% quarter-on-quarter increase in grade at its producing asset, Kalsaka, a consequent 22% increase in gold production and a 5% decline in unit working costs to US$961/oz produced. For the remainder of the year, the higher grade is expected to be at least maintained, the stripping ratio to remain below 6.7 and a degree of the gold locked-up in inventory to be released. As a result, gold output is still expected to be in the range 60-70koz at a cash cost of production of c US$986/oz.
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