Ampella to spend $13m on exploration

Shares in Subiaco-based Ampella Mining closed higher today after the junior announced the board had approved a $13 million exploration program for calendar 2010.

The program will include about 115,000 metres of drilling at its Batie West gold project in Burkina Faso.

The program, which will focus on several prospects within Batie West, is expected to be completed over the next four months.

Ampella said it had secured one multi-purpose drill rig and is in the process of securing another.

In its report for the first half of the 2010 financial year, Ampella said it had $12.6 million in cash and cash equivalents.

Shares in Ampella closed eight cents, or 8.5 per cent, higher at $1.02 today.