20th Jan 2014 10:50
LONDON (Alliance News) - Amara Mining PLC Monday said it has reached its revised full-year 2013 production guidance for its Kalsaka/Sega gold Mine in Burkino Faso.
The Africa-based gold mining company, with operations in Burkina Faso, Ivory Coast and Sierra Leone, said it achieved a full-year production of 42,348 ounces of gold from the site compared from 53,544 ounces at the Kalsaka mine in the previous year before trucking from Sega Gold project began midway through 2013.
As such the company did not achieve its original 50,000 to 60,000 ounces of gold production guidance for 2013 but surpassed its revised number of 40,000 ounces, which the company announced in November after a delay in production from Sega.
The company also increased production by 86% to 14,926 for the three months ended December 31 2013 compared to the previous quarter as the company managed to realise higher grade material from Sega.
Amara set its 2014 production guidance from Kalsaka/Sega at 60,000 to 70,000 ounces as the average grade of material from Sega is expected to continue rising.
Amara Mining shares were up 2.1% to 15.19 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Amara Mining