Amara Mining: Cash and liquid assets rise 10 per cent year-on-year
West Africa-focused gold mining company Amara Mining saw its cash and liquid assets rise by 10 per cent year-on-year, according to an update published by the AIM-listed company on Tuesday morning.
West Africa-focused gold mining company Amara Mining saw its cash and liquid assets rise by 10 per cent year-on-year, according to an update published by the AIM-listed company on Tuesday morning.
The company stated that it had had "robust operational results" in 2012 with the production of 53,544 ounces of gold at Kalsaka despite what it described as "challenging conditions". Total group production for 2012 was 54,925 ounces of gold.
Cash and liquid assets stood at $36.2m at the year end. This compared to a year earlier, when the cash and liquid assets stood at $32.9m, 10% less.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company further announced that trucking of material at its neighbouring Sega Gold Project were expected to commence in mid-2013.
Peter Spivey, Chief Executive Officer of Amara, said: "We look ahead to uninterrupted production in 2013 as the Sega project comes online. With a resource update expected for Yaoure in in the first quarter and the feasibility study for Baomahun anticipated later in the first half, we will move closer to our goal of becoming a mid-tier producer."
MF
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Review: The Hut, Colwell Bay – a seafood lunch with a holiday feel
Travel Getting to The Hut in Colwell Bay on the Isle of Wight is almost as rewarding as actually eating there
-
What is the 7 year inheritance tax rule and how does it help cut your bill?
Speculation is rife chancellor Rachel Reeves has plans to target inheritance tax once again in her upcoming Budget. But the 7 year inheritance tax rule can save you thousands - here’s how it works.