Cluff Gold changes name to Amara Mining

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Three non-exec directors also resign during review of board structure.

Cluff Gold has announced a change of name to Amara Mining Plc, effective immediately, as the company begins its transition to a mid-tier gold producer.

The company also announced that three non-executive directors have resigned as part of the board’s review of its structure.

Amara announced the changes following the extension of its production at the Kalsaka/Sega gold mine, which funds the progression of its pipeline projects, Baomahun and Yaoure, where the company is completing a feasibility study and expanding the resource base respectively.

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Nicholas Berry, Dr Bobby Danchin and Ronald Winston have resigned from the board effective of September 30. From today the Amara board will comprise of three executive directors and three non-executive directors, dubbed “a more appropriate number for a company of Amara Mining plc’s size”.

Peter Spivey, chief executive of Amara Mining, said: "The company is at an exciting time in its development and the change of name seems a fitting start to an era that will see us transition into a mid-tier producer.

“We could not have reached this point without the knowledge and experience of Bobby, Nicholas and Ron, so I’d like to thank them for their good counsel during the Company’s formative years.

The name Amara is of African origin and is said to mean “grace, eternal and immortal”. The company has also updated its logo to a fern design, which is a West African symbol representing endurance and resourcefulness.

Spivey added: “The name Amara and the symbol of the fern represent our focus on West Africa and I am delighted that the Company’s founder, Algy Cluff, has given the change of name his blessing. With John McGloin’s appointment as executive chairman and a number of key milestones across our assets on the horizon, we look forward to the growth of Amara Mining plc in the years to come."

The company’s ticker is also set to change to AMA on the London Stock Exchange and to AMZ on the Toronto Stock Exchange once approval has been received from the TSX, which is expected by the end of this week.
 

 

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