Avesoro Res. Share Discussion Threads

[effortless cool] 22/1/2016 13:17

UKGeorge,

I have lost a lot of money on this share over the years and have some serious issues with some of the things that have gone on, but you have to look at its performance in context.

Most junior miners of AUE's vintage have either gone bust or are enduring a long lingering decline before going bust; AUE by contrast, is still going, has a mine and has additional valuable exploration opportunities. There is still a viable business here. And bigger resource stocks have been hammered too, e.g. Rio have lost over half their value in the last 18 months.

I sold my original holding around the 18p mark, but bought back in when the price dived after the placing. I did so because the I view the upside potential as material and am prepared to hold my nose and tolerate Netherway in the meantime.

[ukgeorge] 22/1/2016 10:35

they stole 2% of the company, after destroying circa 65% of the share price.

The management had no money risked in the company and this should have been a massive alarm bell.

The aim market is unregulated and this allows lifestyle companies to get away with this.

[effortless cool] 22/1/2016 10:30

dgarvey,

An issue of options to management in January seems to be part of their package - AUE do it every year and also did it in AUE's previous life as AAAM. So right or wrong, at least it is consistent, and may even be contractual. Also bear in mind that all of the other options issued in previous years are now well out of the money and effectively worthless.

What really sticks I my craw is the issue of options to the Chairman and the other non-execs. That goes against all standards of corporate governance and is, in my opinion, just raw venality.

[dgarvey] 22/1/2016 10:10

Not yet ? - maybe if they get enough adverse comments from shareholders they may revise / advertise the vesting. A lack of shareholder oversight just allows the old boy network to line their pockets.

[beeezzz] 21/1/2016 16:16

dgarvey..........No reply yet then Hmm!

[dgarvey] 19/1/2016 16:54

Just sent to the company -Please can the audit committee explain why share options have been awarded at the current price when the share price has collapsed by over 66% in the past few months.If the audit committee were truly looking after shareholder interests, the options would be vested at a significant premium to today's price, maybe around15p which it was in November.This smacks of the old boy network lining each other's pockets.Maybe, in the interests of transparency, you will review the vesting requirements and publish them, so shareholders (your employers) can determine whether they are fair and challenging.Frustrated shareholder

[diesel] 18/1/2016 15:45

Worrying that they haven't reported start of commercial production, it will happen, but they need revenue desperately..
On a more positive tack cost of production must have fallen significantly due to oil price, this operation is very dependant on diesel for generators and plant.

[danielmiller1] 07/1/2016 08:53

Aureus Mining completes acquisition of Sarama exploration licences in Liberia


Dual-listed West African gold producer Aureus Mining has completed the acquisition of three exploration licences from Sarama Resources, for just over 6.6 million Aureus common shares.

The acquired licences are contiguous to the company’s Bea Mountain mining licence and are located close to its producing New Liberty gold mine in Liberia.

As a result of the acquisition, the company’s total land portfolio in Liberia has increased to 1 683 km2 from 1 402 km2.

On initial closing 5 648 310 shares have been issued to Sarama, with the remaining 996 760 shares retained and not issued until the required withholding tax clearance certificate is obtained.

Application has been made to the London Stock Exchange for admission to trading of the first tranche of shares on AIM. It is expected that admission of the first tranche of shares issued to Sarama will become effective around 7 January 2016.

The shares will be subject to a statutory four month hold period from the date of issue (the second tranche of shares will also be subject to a statutory four month hold period from the date

[pixi] 06/1/2016 17:37

Gold at $1090.70 - it has broken out!

[ukgeorge] 06/1/2016 13:30

petra diamonds pdl, is worth a look, my biggest holding. Still haven't bought back in here and today's rns and the ever increase shares in issue are a big negative. Not to mention the failure to get into commercial production

[unionhall] 06/1/2016 12:24

Better than here watching stocks decline....

Put it all on number 6 in the third....

[pixi] 06/1/2016 11:50

The price of gold is $1085 and if it closes above that we are off to the races.

[ridicule] 06/1/2016 11:20

oggyrocks I, like you, do not expect to get anything back unless Iron Ore makes a major recovery. The big instis called an EGM with the proposal to defer and this was approved. I am not sure about the coupon, but there is a letter on the IMIC website that gives contact numbers. I have such little faith, I have not botherd to enquire.

[ridicule] 06/1/2016 10:24

Robrah Good to hear from you. Like you a long term sufferer. I have been hit particularly hard by the commodity rout, in particular any thing with David Netherway's involvement. I added here yesterday to average down on a share that should provide some returns going forward. I am disgusted with today's announcement awarding non-contributary options: some with no performance criteria involved and some with an undefined set of criteria contained in the RNS. This has Netherway's hallmark all over it and my respect for David Reading is at an all time low.

I still hang on to the IMIC convertable from Affero, now deferred until 2020, and I still hold RXP, TPL,GKP,VOG and STEL, FDI, DCP.

On a lighter note I have moved on to ZYT, BBOX,FPO,MFX,that are all giving me good returns, as well as a large portfolio of blue chips that have saved me to a large extent from my AIM Commodity follies.

[stompy jones] 06/1/2016 09:36

"However strategy for 2016 is to stop haemorrhaging cash on AIM so might sit on my hands and watch for a bit longer."

Absolutely.

There are a lot of bombed out mining stocks going up this fortnight but the sector as a whole is expected to weaken before it gets better later in the year.

Can't work out if this stock is worth watching or not. Lost on it in 2015 and not at all impressed by the last fund raise. It seems a bargain but it's hard to trust it.

Sympathetic to long term holders. This should have been a good one. Might still be with a little patience.

[oggyrocks] 06/1/2016 08:47

So there are now 540million shares in issue. Up from 367 in Feb 2015 (see notes above). That is a lots of shares now.

Cant work out if this is worth a punt or not. Cant really see it going back to 20p any time soon, but could go to 10p possibly on good news. (Company is valued at 35million at todays price)

However there is no history of good news from this company and the price of gold is still low despite the best efforts of Iran, Saudi, N Korea to stir up problems.

Was a bit tempted on yesterdays rise as this share moves on insider trading (no proof) and maybe somebody had been given some good news.

However strategy for 2016 is to stop haemorrhaging cash on AIM so might sit on my hands and watch for a bit longer.

Good luck all -

[robrah] 06/1/2016 08:25

Ridicule what do you see as an investment in this case like me you have been in this nightmare from the start .

[robrah] 06/1/2016 08:23

Weldone David keep it up . This is what you are good at. Robbers

[ukgeorge] 06/1/2016 08:14

Management just stole 2% of the company 11 M new shares at a 20% discount to today's price. Day light robbery, disgraceful.

[ny boy] 06/1/2016 03:53

Oh dear, says it all really...

ivaldo 13 Apr'11 - 18:03 - 56 of 6467 0 0

From UK-Analyst, a 167p valuation:


Another one priced to go bust this year.

[ridicule] 06/1/2016 00:07

I too bought more today @ 5.5p in anticipation of impending announcement on reaching commercial production diesel.

[diesel] 05/1/2016 22:59

UKG..., I've recently bought just on the announcement of Commecial production, any day now.

[pixi] 05/1/2016 21:50

Value will always out.

[ukgeorge] 05/1/2016 15:31

so does this move up mean that commercial production is on schedule....