Search Follow us

Amara Mining (AMA)

Business description

The Kalsaka/Sega complex having reached the end of its productive life, Amara Mining is now developing the pre-feasibility stage Yaoure Gold Project in Cote d'Ivoire. It also has a development stage project in Baomahun in Sierra Leone.

Stock data

Market cap.£72.6m
Last close17.25p
High / Low (52 weeks)17.2p / 17.3p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual0.00.00.0
Relative *(2.1)(0.6)(7)

* % Relative to local index

Other companies in sector Show

AEX Gold Afferro Mining
Afri-Can Marine Minerals African Barrick Gold
African Eagle Resources African Minerals
Alabama Graphite Alderon Iron Ore
Aldridge Minerals Alkane Resources
All Star Minerals Allied Gold Mining
Almonty Industries Altius Minerals
Altona Energy Amerigo Resources
Amur Minerals Angel Mining
Anglesey Mining Anglo Pacific Group
Antofagasta Aquarius Platinum
Arian Silver Ariana Resources
Asa Resource Aspire Mining
Atalaya Mining Atlantic Gold NL
Aurcana Corporation Aureus Mining
Auriant Mining Aurizon Mines
Avalon Rare Metals Avnel Gold Mining
Baobab Resources BCI Minerals
Bear Creek Mining Bellzone Mining
Bezant Resources Blackthorn Resources
Bushveld Minerals Cabral Resources
Cadence Minerals Caledon Resources
Caledonia Mining Cameco
Canada Lithium Corporation Carpathian Gold
Celamin Holdings Central Asia Metals
Centrex Metals Champion Iron
Chatham Rock Phosphate Chieftain Metals
Coal of Africa Condor Gold
Continental Coal Cradle Resources
Dalradian Resources Danakali
Denison Mines Discovery Metals
Doray Minerals DRDGOLD
Duluth Metals Eastern Platinum
ECR Minerals Edgewater Exploration
Element ASA Endeavour Mining
Energy Fuels Entree Resources
Equatorial Resources Euromax Resources
European Goldfields Forsys Metals Corp
Freegold Ventures Fronteer Gold
Frontier Mining Frontline Gold
Galaxy Resources Gascoyne Resources
Gemfields GMA Resources
Gold One Gold Road Resources
Gold Sector Report Goldcrest Resources
Golden Minerals Company Goldplat
Graphite Sector Report Gunson Resources
Hambledon Mining Hecla
Highland Gold Highlands Pacific
Hummingbird Resources Ichor Coal
International Mining & Infrastructure Corp Iron Road
Ironwood Gold Jameson Resources
KEFI Minerals Kenmare Resources
Kingsgate Kinross Gold Corporation
Kopy Goldfields Lemur Resources
Lepidico Lithium Americas Corp
Lithium X Energy London Mining
MacPhersons Resources Majestic Gold
Mandalay Resources Corp Mariana Resources
Matamec Explorations MDM Engineering Group
Medusa Mining Metallica Minerals
Metals Exploration Minera IRL
Mineral Commodities Minotaur Exploration
Mkango Resources MMG
Mustang Resources Natural Resource Partners
Ncondezi Energy Nevsun Resources
New Talisman Gold Mines Nkwe Platinum
Nordgold Northern Dynasty Minerals
Norton Gold Fields NovaCopper
OceanaGold Oracle Coalfields
Orbis Gold Ormonde Mining
Orosur Mining Orpheus Energy
Pan African Resources Pan American Goldfields
Papillon Resources Pasinex Resources
Petropavlovsk Pilot Gold
Platmin PolyMet Mining
Polymetals Mining Randgold Resources
Rare Element Resources Red Rock Resources
Regency Mines Richmont Mines
Rio Tinto Robust Resources
Rock Tech Lithium Rutila Resources
Sable Mining Seabridge Gold
Shore Gold Sirius Minerals
South American Silver Corp St George Mining
Sumatra Copper & Gold Syndicated Metals
Teck Resources Tiger Resources
Titanium Resources Group Torex Gold
Triton Minerals True North Gems
U3O8 Holdings Universal Coal
Vatukoula Gold Mines Veris Gold Corp
Victoria Gold Volt Resources
W Resources Western Areas
Wheaton Precious Metals Wits Gold
Wolf Minerals Woulfe Mining
Zanaga Iron Ore Company Zazu Metals Corporation

Company news

Investment summary

Yaoure's optimised PFS (by Amara with input from GeoSystems, Tetra Tech and AMEC Foster Wheeler) estimates a post-tax project NPV of US$555m (US$1.32/sh) at an 8% discount rate and US$1,200/oz Au vs its PFS NPV of US$286m (68cps) at 8% and US$1,250/oz and US$513m (US$1.22/sh) for its enhanced (albeit non-NI 43-101 compliant) MII option. Compared to the PFS, the optimised PFS is smaller (4.5Mtpa vs 6.5Mtpa) and requires less initial capex (US$334m vs US$447m) for 203koz of average annual production over 15 years. The PFS estimates total cash costs at US$618/oz (vs PFS US$739/oz and MII US$608/oz).

Last updated on 29/06/2018

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2013A 52.4 (14.3) (22.1) (10.0) N/A 3.3
2014A 53.3 (2.5) (15.1) (3.7) N/A 69.7
2015E N/A N/A N/A N/A N/A N/A
2016E N/A N/A N/A N/A N/A N/A

Last updated on 13/09/2017

Latest research

Revised guidance/forecasts

Update | Mining | 02/12/2013

Valuation update

Institutional Update | Mining | 19/11/2013

Short-term pain/risk for long-term gain/reward

Institutional Update | Mining | 02/10/2013

Implied Q412 results confirm cost control

Update | Mining | 04/04/2013

In line on both fronts

Update | Mining | 26/03/2013

Est Yaoure resource update value

Update | Mining | 15/03/2013

Segueying

Update | Mining | 23/10/2012

Grade up; costs down; re-valued

Update | Mining | 03/09/2012

1.8m additional ounces at Yaoure?

Update | Mining | 29/08/2012

Sega and exploration

Update | Mining | 04/04/2012

Q4 production report

Update | Mining | 17/01/2012

Record Q3/Q3 preview

Update | Mining | 14/12/2011

Latest video

Executive Interview - Amara Mining

Industry outlook

On 28 February, Australia's Perseus made a recommended offer for Amara (AMA) at a rate of 0.68 Perseus shares (currently priced at A$0.49 each) plus 0.34 warrants (at a strike price of A$0.44/sh) per Amara share, valuing AMA at 16.3p per share at the time, or US$9.11 per in-situ resource ounce. Trading in Amara shares has now been suspended pending imminent finalisation of the transaction.

Last updated on 29/06/2018

Key management

John McGloin, Chairman
Pete Gardner, CFO

Company address

4th Floor
29-30 Cornhill
London
EC3V 3NF
United Kingdom
+44 (0)20 7398 1420
View website