[miningmx.com] – AMARA Mining, the UK-listed gold exploration and development firm, said it would consider selling its Sierra Leone project, Baomahun, or find a partner, in order to finance its lowest cost Yaoure project in Ivory Coast.
Baomahun is almost profitable but development of the project was slowed when the gold price sank 28% last year, said Bloomberg News citing Amara Mining chairman, John McGloin. “We’re looking at all options,” McGloin said. “We would consider selling Baomahun if someone gave us a reasonable value,’ he said.
Yaoure, with inferred resources of 5.5 million ounces of gold, may be able to produce 250,000 to 300,000 ounces a year and was profitable at lower gold price levels than the Baomahun operation, Bloomberg News said.
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