UPDATE: Amara Mining Reports Increased Resource Estimate at Baomahun Gold Projectet, Yet Stocks Plummet 30%


Shutterstock photo

Amara Mining plc (AMZ.TO) has filed a National Instrument 43-101-compliant technical report, dated 03 January 2013, detailing the resource update for its Baomahun Gold Project.

The company said the report showed increased resource in the indicated category through addition of low grade halo around the existing high grade core: updated resource of 38.4Mt at 1.82g/t totalling 2.24Moz in the indicated category (previously 25.6Mt at 2.50g/t totalling 2.06Moz).

AMZ has dropped 30% to $1.05, just 5 cents above year lows.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com