14th May 2015 09:40
LONDON (Alliance News) - Amara Mining PLC on Thursday said the pre-feasibility study conducted on the Yaoure gold project in the Ivory Coast has confirmed the economics of the project.
The study confirmed the site, 100%-owned by Amara, as an "outstanding gold development project", Amara said.
A drilling programme has started at the project to upgrade a portion of the remaining inferred mineral resource to the indicated category, and Amara said it is investigating a number of opportunities to further improve the economics of the site.
"Delivering a pre-feasibility study for Yaoure is an important milestone in the project's advancement, and the results confirm it is a robust project with the potential to generate strong financial returns. The pre-feasibility study is just a snapshot on Yaoure's path to development and it does not represent the final project we are going to build, which is why we have also announced details of the MII Scenario today," said Amara Chairman and Chief Executive John McGloin.
Amara shares were down 4.8% to 15.5 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Amara Mining