RNS Number: 3621 C Avesoro Resources Inc. 14 June 2019. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Avesero Resources (ASO.L) 31.00pp £25.70m The “West African gold producer, announces that, further to its announcement of June 10, 2019, negotiations remain on-going between the Company's open pit mining contractor, the Orkun Group Sarl and former employees of the Company's open pit mining department at its Youga mine in Burkina Faso with a view to re-hiring the open pit operators. The Company's CEO is working closely with senior management of Orkun to resolve the situation. The Company remains confident of a positive near-term conclusion, however gold processing operations have now been temporarily suspended at Youga. Mining and processing operations will recommence upon successful conclusion of these negotiations.”
Avesoro Resources (ASO LN) 31p, Mkt Cap £25.3m – Youga processing suspended while negotiations continue • Avesoro Resource reports that negotiations are continuing with the open-pit mining contractor “and former employees” at its Youga gold mine in Burkina Faso. • The discussions concern “re-hiring the open-pit operators” and the company “remains confident of a positive near-term conclusion, however gold processing operations have now been temporarily suspended at Youga. Mining and processing operations will recommence upon successful conclusion of these negotiations.” • Earlier this week, the company announced that it was reducing its 2019 production guidance by 30,000oz to 180-200,000oz (around 15%) as a result of the problems at Youga as well as by disruption to budgeted production arising from transition to contractor mining at its New Liberty mine in Liberia. Conclusion: Suspension of processing at Youga adds to the pressure for a speedy resolution of negotiations and prompt resumption of normal operations.
Avesoro Resources Inc. (ASO.L) Announced, in its operations update, that further to its announcement of June 10, 2019, negotiations remain on-going between the company's open pit mining contractor, the Orkun Group Sarl and former employees of the company's open pit mining department at its Youga mine in Burkina Faso with a view to re-hiring the open pit operators.
Avesoro Resources Inc., the TSX and AIM listed West African gold producer, announces that, further to its announcement of June 10, 2019, negotiations remain on-going between the Company's open pit mining contractor, the Orkun Group Sarl and former employees of the Company's open pit mining department at its Youga mine in Burkina Faso with a view to re-hiring...
Avesoro Resources (ASO LN) 39p, Mkt Cap £31.8m – Reduced 2019 production guidance • Avesoro Resource reports that plans to adopt contractor mining at both its New Liberty and Youga mines have led to disruption. • At Youga, “this has resulted in the open pit mining fleet operators refusing to work. If the situation at Youga is not resolved on or before June 12, 2019 gold production at Youga will be temporarily suspended” • At New Liberty, The planned transition to contractor mining … has also resulted in disruption to mining activities and gold production, with production materially deviating from budget in April and May as a result.” • In consequence, the company has reduced its 2019 production guidance, “to 180,000 - 200,000 ounces (previous guidance 210,000 - 230,000 ounces). Assuming the stoppage in mining operations at Youga is resolved quickly, we expect a funding shortfall of between US$25milliion to US$30million later this year.”
Avesoro Resources Inc (ASO.L) Announced an operational update including revised full year production and cost guidance. Unexpected ore dilution had been a feature in Q1 2019. This has continued into Q2 with the average mined grade at the Gassore satellite pit during the five months ended May 31, 2019 substantially lower than the reserve grade of 3.74 g/t published in the updated mineral reserve estimate announced on May 8, 2019. The company, also under the direct supervision of the Chairman, commenced an initiative to the transition from owner mining operations to contractor mining operations. Further, it expects production for the full year to be in the range of 180,000 - 200,000 ounces, a reduction from the previous guidance of 210,000 - 230,000 ounces. A special committee has been formed to oversee the operational performance at the company's mines and to consider various financing options available.
RNS Number: 6013 B Avesoro Resources Inc. 10 June 2019 10 June 2019. Avesoro Resources Inc.,, the TSX and AIM listed West African gold producer, announces the following operational update including revised full year production and cost guidance.. Serhan Umurhan, Chief Executive Officer of Avesoro, commented: " During Q1 and thus far in Q2, the Company has experienced...
·Gold production of 45,098 ounces from the New Liberty Gold Mine in Liberia and Youga Gold Mine in Burkina Faso; and. ·Consolidated operating cash costs of US $911 per ounce sold 1, an improvement of 7% QoQ, and all-in sustaining costs of US $1,149 per ounce sold 1, an improvement of 6% QoQ and both within the full year guidance range;. ·Company revenues of US $59.9 million,...
RNS Number: 2842 Y Avesoro Resources Inc. 08 May 2019 8 May 2019. AT THE YOUGA GOLD MINE, BURKINA FASO. Avesoro Resources Inc.,, the TSX and AIM listed West African gold producer, is pleased to announce the results of an upgraded Mineral Resource and Mineral Reserve Estimate, and an updated Life of Mine plan, for its Youga Gold Mine in Burkina Faso..
RNS Number: 1292 X Avesoro Resources Inc. 25 April 2019. RESULTS OF ANNUAL GENERAL MEETING OF SHAREHOLDERS. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Avesoro Resources (ASO.L) 117p £101.97m Avesoro Resources, the West African gold producer, announced its preliminary production results for the quarter ended March 31, 2019 from its New Liberty Gold Mine in Liberia, and Youga Gold Mine, in Burkina Faso. Consolidated gold production of 45,098 ounces in the Quarter; New Liberty gold production of 25,855 ounces in the Quarter, a 5% increase on Q4 2018; Youga gold production of 19,243 ounces in the Quarter, a 6% reduction on Q4 2018; and Total material movement of 13,201kt in the Quarter, a 19% increase on Q4 2018, including 609kt of ore and 12,592kt of waste material.
Avesoro Resources (ASO LN) 117p, Mkt Cap £95.4m – 2019 production guidance maintained despite lower plant throughput in Q1 • Avesoro Resource has reported production of 45,098oz of gold during the quarter ended 31st March 2019. The New Liberty mine in Liberia contributed 25,855oz with the remaining 19,243oz produced at the Youga mine in Burkina Faso. • The company is maintaining its 2019 production guidance of 210-230,000oz of gold production although “performance at both mines was slightly behind our targeted production levels for the Quarter with the shortfall in gold production vs. our target predominantly due to lower plant throughput at both operations”. • At New Liberty, priority was given to waste removal during the quarter at the expense of ore production with the quarterly waste:ore ratio rising to 25.6:1 (Q4 2018 18.6:1), however, this imbalance is reported to have now been resolved “and we expect to maintain availability of ore for the remainder of the year.” • The company is “in advanced discussions” with a mining contractor at New Liberty which, “If concluded successfully, the engagement of the contractor is expected to reduce our mining costs below the already very attractive internal cost per tonne that we achieve, provide access to additional mining equipment to increase material movement and outperform the original production guidance at the mine.” • The issues at Youga were that “additional lower grade ore blocks were mined which together with unexpected ore dilution impacted the average grade of mined ore at the Gassore pit. In response to this, smaller excavators are now being used to reduce dilution whilst the haulage capacity of our existing haul trucks has been increased to ensure required ore volumes are transported to the ROM pad”. Conclusion: Avesoro has taken steps to address the reduced plant throughput at its New Liberty and Youga mines during Q1 and is maintaining its full year production guidance.
Avesoro Resources Incorporation (ASO.L) Announced in its preliminary production results for the quarter ended March 31, 2019 (Q1 or the Quarter) from its New Liberty Gold Mine (New Liberty) in Liberia, and Youga Gold Mine, (Youga) in Burkina Faso, that consolidated gold production was 45,098 ounces in the quarter, New Liberty gold production of 25,855 ounces in the quarter, a 5% increase on Q4 2018 and Youga gold production of 19,243 ounces in the quarter, a 6% reduction on Q4 2018. Total material movement of 13,201kt in the quarter, a 19% increase on Q4 2018, including 609kt of ore and 12,592kt of waste material.
RNS Number: 8336 V Avesoro Resources Inc. 11 April 2019. Avesoro Resources Inc.,, the TSX and AIM listed West African gold producer, is pleased to announce its preliminary production results for the quarter ended March 31, 2019 from its New Liberty Gold Mine in Liberia, and Youga Gold Mine, in Burkina Faso.. ·Consolidated gold production of 45,098 ounces in the...
Avesoro Resources Inc. (ASO.L) Announced that the Company has filed an updated technical report pursuant to National Instrument 43-101 ("NI 43-101") relating to its New Liberty Gold Mine in Liberia (the "Report") on SEDAR. The Report supports the disclosure made by the company in its announcement dated March 6, 2019 and entitled "New Liberty Pre-Feasibility Underground Study and 2019 Production Guidance". There are no material differences in the Report from those disclosed in the announcement. The Report has an effective date of January 31, 2019 and is entitled "NI 43-101 Pre-Feasibility Report, Mineral Resource and Mineral Reserve Update for the New Liberty Gold Mine, Liberia", and was prepared by CSA Global (UK) Limited.
Avesoro Resources Inc., the TSX and AIM listed West African gold producer, is pleased to announce that the Company has filed an updated technical report pursuant to National Instrument 43-101 relating to its New Liberty Gold Mine in Liberia on SEDAR.. The Report has an effective date of January 31, 2019 and is entitled "NI 43-101 Pre-Feasibility Report, Mineral...
RNS Number: 7301 U Avesoro Resources Inc. 01 April 2019. BLOCK LISTING SIX MONTHLY RETURN. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Berenberg, Gossler& Co. KG, 60 Threadneedle Street, London EC2R 8 HP, United Kingdom, on Thursday, April 25, 2019 at 10:30 a.m... Avesoro Resources is a West Africa focused gold producer and development company that operates two gold mines across West Africa and is listed on the Toronto Stock Exchange and the AIM market operated by the London Stock Exchange.
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Company Profile

Avesoro Resources Inc. is engaged in the exploration and development of gold deposits in highly prospective and under-explored areas of Liberia, Burkina Faso and Cameroon. Avesoro Resources Inc. (formally Aureus Mining Inc.) was incorporated and registered in Canada on February 1, 2011 pursuant to the CBCA in order to facilitate the Arrangement completed on April 13, 2011.

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