Avesoro Res. Share Discussion Threads

[stevie blunder] 26/2/2016 11:18

I think they said that the higher AISC in the first years was due to the higher strip ratio.

Factor in the lower production, the (probable) higher costs for explosives since they had supply problems, but on the plus side the lower cost of oil, and I don't have a clue what their actual running costs per ounce will be. Except that they will look horrendous for Q1 2016.

Do they have to give cash costs before declaration of commercial production? I seem to remember that until the declaration the produced gold was offset against mine capital expense in accounting terms.

[beeezzz] 26/2/2016 11:12

Thanks.....so we need high gold price really...which according to futures should come by early summer. West is heading for deflation you see.

[dgarvey] 26/2/2016 09:48

The December presentation quoted $820 / oz but further down a $959 all sustainable cost is indicated for 2016. I assume this is due to the mine not reaching capacity until the second quarter, raising the current production costs.

[beeezzz] 25/2/2016 12:28

Yep....every central bank are trying to devalue their currency except US who are living in cloud cuckoo land, they should try what we did have a referendum that seems to be working for the pound, good thing for gold if $ strengths up goes all commodities.. mining could be on it way back...well let hope so.

Are cost about $800 oz?

[ukgeorge] 25/2/2016 12:21

sadly not have 50k and sold 50k yesterday and a 100k last week.

hey ho live and learn

[ridicule] 25/2/2016 11:57

UKGeorge I hope you held on like me!! In fact I topped up this am @ .032p. Bloomberg interview has gold trading between $1300 -$1500 on the emergence of Japanese and ECB negative interest rates alone! If risks rise further, so will gold.

[ukgeorge] 24/2/2016 13:15

The Lenders will now commence discussions with the Company to agree upon an appropriate debt repayment schedule, following the review of various mine plan scenarios, with a final mine plan selected by the end of February 2016.

Appointment of Financial Advisor

Aureus has engaged RBC Capital Markets as its Financial Advisor to assist the Company in undertaking a strategic review of the Company, including examining and considering potential alternatives that may be available to Aureus. While such review is ongoing, no assurance can be given that any action will ultimately be taken in connection with such review. The Lenders are supportive of the strategic review process, which is being undertaken.

So news due before month end.

Am tempted to sell what I have, as see this as a coin toss of a gamble could drop 50% or rise similar, depending on the news.

[ukgeorge] 18/2/2016 16:22

yep, but it would be lower than 3p, more likely 2p or 1.5p

[bsg] 18/2/2016 15:33

A 2,000,000,000 shares issued at 3p. should help the cause. Then some lovely options for the BOD @ 3p. Rinse and repeat.

[ukgeorge] 18/2/2016 15:22

Notifier Holding Value*
David J. Reading 428,334 £14,456
David Netherway 332,282 £11,214
Karin Ireton 52,000 £1,755
Loudon Owen 50,000 £1,688
Jean-Guy Martin 25,000 £844
Adrian J. Reynolds 10,000 £338


This speaks volumes on its own.........

I had bought 200k shares today, but decided to sell 100k and regard the rest as very speculative.

Okay they are likely in a closed period but until the management actually put some of their own money at risk, it is shouting stay away.

[ukgeorge] 18/2/2016 12:38

hp://www.proactiveinvestors.co.uk/companies/stocktube/4673/teething-problems-over-at-new-liberty-says-aureus-chief-4673.html

[stevie blunder] 18/2/2016 11:43

Very positive news.

What is holding me back from averaging down is fear of the outcome of the negotiations with the bank. They played pretty hard ball last time, demanding an equity raise equal to the new funds being lent.

There could be a lot more dilution on the way.

[zyper2] 18/2/2016 11:20

Nice positive piece on today's news on proactiveinvestors.co.uk

[ukgeorge] 18/2/2016 10:45

just added some more paid 3.43p

hopefully they will jump higher

[zyper2] 18/2/2016 10:03

yes, just realised the volume makes less than 1%! Still, onward & upward,hopefully

[ukgeorge] 18/2/2016 09:41

there are an awful lot of shares in issue

[zyper2] 18/2/2016 09:22

buys outstrip sales massively yet very little movmt on price?!

[dgarvey] 18/2/2016 09:22

Because they are nec's and independent? Cuts through the bull (hopefully) and get at the truth (if one were optimistic).With gold above 1200 and current production around 77k pa, any guesses on the per oz costs? Last years presentation quoted 959/oz for 2016 but presumably being slightly generous.

[ukgeorge] 18/2/2016 09:17

This is great news, actually making progress, just bought back. @3.3p

the debt negotiations are now key and AUE future really depends on how harsh the banks are.

[effortless cool] 12/2/2016 13:09

Because it is not reviewing the future of the mine, it is reviewing the future of the business that owns the business that owns the mine.

[clinton baptiste] 12/2/2016 12:15

AUREUS MINING INC.

SPECIAL COMMITTEE STRATEGIC REVIEW

RECOMMENDATIONS

1) Fire the CEO

2) Er, that's it.

But seriously, why wouldn't the CEO be an automatic member of a committee set up to review the future of the mine?

[diesel] 11/2/2016 23:27

The Canadian market looked a bit lively tonight!

[beeezzz] 11/2/2016 22:40

Gold futures are looking good though....above last years price, maybe they could squeak out of this self created bulls up.

[stevie blunder] 11/2/2016 16:48

Never ascribe to malfeasance what can be explained by incompetence. I think they were too optimistic that the commissioning would go according to plan. Too optimistic about the gold price. Too optimistic that they could catch up on waste stripping that got behind due to the explosive supply problems. Too optimistic they could make up time lost because of Ebola. I could go on.

They used up the contingency cash then raised too little at the last minute (because they were too optimistic that they had turned a corner), so ran into the ground again almost immediately when other problems appeared.

One reason I held these ( like many others I imagine) is that if there was uncertainty in the stock-market the price of gold might rise, AUE would benefit and hedge falls elsewhere in the folio. Right.......

Even basket case Avocet is up 43% today. Sheesh.