Avesoro Res. Share Discussion Threads

[parthus] 25/1/2016 00:18

Isn't deltrotter sweet ? Such concern over our losses.... I wish he was my friend....

[diesel] 24/1/2016 17:13

It just goes to show how key timings are the closer you get to production. They are now accruing huge operational costs without the income to cover them and as TS has highlighted in the statement, that with luck they can meet suppliers costs once the gold recoveries are on target, nothing about debt repayments.....

[deltrotter] 24/1/2016 14:45

It certainly does look as though this could be all over. Question is, how on earth could that have happened?!

[tsmith2] 24/1/2016 14:40

The Company has sought Lenders approval for deferral of the first debt repayment as it currently has insufficient cash resources available to pay both the first debt repayment and continue to make payments to suppliers as they fall due. It is anticipated that revenue generated from future gold production should ensure that suppliers continue to be paid and operations can continue at New Liberty.So not a going concern as things stand..trading should be suspended pending clarification of financial position?

[tsmith2] 24/1/2016 14:35

So they've blown $22mn dollars in the last month?See fund raising RNS in December re: drawn down and equity fund raise

[diesel] 23/1/2016 09:20

The numbers here are misleading, isn't the target production, 10,000 oz/month? The statement talks of the cil circuit operating at 70%, but at 3600 oz so far this month that is barely 50%.
At some point I saw that the all in costs were $1100/oz, probably more now due to increased financing, at 12000 per month the costs are about $13mill. a month, if they are producing at 50% capacity, well you can see what the losses are per month. Maybe some of this askew, but, either way they have big problems, only hope for them is a huge rise in POG!

[deltrotter] 23/1/2016 07:15

It's a shocker guys. Been here before with a Friday afternoon death knell on other companies so I know what it is like and feel for you.

[dgarvey] 23/1/2016 00:54

Arian silver all over again?Funny how they could disclose the share options and purchase completion on the 6th Jan but failed to disclose the missed gold production target for 2015 and lower than predicted gold recovery.They must have known the piggy bank was empty. The only plus side is they have to get the share price back to + 6p before they get a free ride.

[sleveen] 22/1/2016 17:38

Donald Ducked...1p here we come!

[ukgeorge] 22/1/2016 17:36

Well, I'm of skiing for the week so will wish all holders good luck

[arf dysg] 22/1/2016 17:24

"The Company has entered into discussions with its banks to obtain a deferral of the first bullet repayment, scheduled for 31 January 2016."


What??? So soon after the last placing, when they basically mortgaged their soul to the banks, they're about to miss a repayment and are going to have to sell even more of the company.

[beeezzz] 22/1/2016 17:06

Interesting for whoooooooooooo

[ukgeorge] 22/1/2016 17:02

22-Jan-16
16:30:28
3.80
1,100,000 Sell*

A pretty big sell at the last, next week will be interesting.

They have one week to renegotiate the loans if they fail, the mine will be gone.

Happily on the sidelines.

[jimcar] 22/1/2016 16:40

"Aureus is finalising the appointment of a Financial Advisor to conduct a strategic review to assess potential options that may be available to Aureus."

Sounds a bit like they may try and put some of the assets (Ndablama?)up for sale or even the whole thing.

[targatarga] 22/1/2016 16:06

hope managements options are still in the money!

[tsmith2] 22/1/2016 16:04

Think said this before reminds me of SHG early on...SHG took quite some time and a number of dilutive placing to get there.SHG and POG better options imo

[effortless cool] 22/1/2016 16:03

I take it all back - Looks like I got this wrong again!

[tsmith2] 22/1/2016 15:56

Friday afternoon..attempt to bury bad news

[tsmith2] 22/1/2016 15:55

What was the point of the last fund raising

[ukgeorge] 22/1/2016 15:46

News out

Get ready for the next batch of shares to be added.