Amara Mining PLC: Granting of Mining Licence for Sega Gold Project
18.07.2013 | Marketwired
LONDON -- (Marketwired - Jul 18, 2013) - Amara Mining PLC (LSE: AMA) (TSX: AMZ), the dual AIM and TSX-listed West African focused gold mining company, is pleased to announce that it has been granted the Mining Licence for its Sega Gold Project ("Sega" or "the Project") in Burkina Faso, 20km to the north of its Kalsaka Gold Mine ("Kalsaka").The Project is now fully permitted, significantly de-risking the integration of Kalsaka and Sega. Bringing Sega into production is expected to ensure that Amara continues to generate cash flow until at least 2015 based on Sega's current Mineral Resources, as demonstrated in the Preliminary Economic Assessment.
As announced on 21 May 2013, Amara was granted the Environmental Permit for Sega following the acceptance of Amara's Resettlement Action Plan by the Burkina Faso Government. Prior to this on 30 April 2013, the Company received the Environmental and Construction permits for the haul road to connect Kalsaka and Sega and work on the haul road is progressing on track.
Mining is expected to commence at Sega during Q3 2013 as planned, with the installation of the crushing circuit at Sega due to begin shortly. This is anticipated to strengthen Amara's production profile due to the higher head grade of the Sega resources (2.5Mt at 2.0g/t for 163,000 ounces) compared to the remaining Kalsaka reserves (0.9Mt at 1.4g/t for 38,000 ounces). Amara maintains its production guidance of 50,000-60,000 ounces in 2013.
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For more information please contact:
Amara Mining PLC +44 (0)20 7398 1420
John McGloin, Executive Chairman
Peter Spivey, Chief Executive Officer
Pete Gardner, Finance Director
Katharine Sutton, Head of Investor Relations
Canaccord Genuity Limited +44 (0)20 7523 8000
(Nominated Adviser & Broker, London)
Andrew Chubb
Joe Weaving
Tim Redfern
Pelham Bell Pottinger +44 (0)20 7861 3232
(Financial Public Relations)
Charlie Vivian
James MacFarlane
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