Oct 23rd 2012 - Edison Investment Research today published a report on Amara Mining (AMA.L, LSE:AMA, LON:AMA) entitled "Segueying". In summary, the report says:
On 16 October, Amara (previously Cluff Gold) released the results of a preliminary economic assessment (PEA) for the Sega project, which indicated the potential for an operation mining 2.5Mt of ore at a grade of 2.0g/t over 21 months at a cash cost of US$821/oz. Work is under way to ensure that the licensing of the property can be concluded in a timely fashion to allow the trucking of first Sega ore in H113 and a smooth transition from the processing of Kalsaka to Sega ore. At the same time, ongoing exploration has yielded wider and more continuous intercepts than expected, including one of 79.3m.g/t (26m at 3.05g/t from 8m down-hole depth) at Touli.
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