Avesoro Res. Share Discussion Threads

[sleveen] 10/5/2016 07:56

Could take several months to get the permissions.

Not what was needed just as success approaches.

[ridicule] 10/5/2016 07:52

The problem is cyanide related evidence of wet land contamination; apparent evidence of pressing on regardless because of the need to keep cash flowing during Bank negs; two Liberian Government Agencies need to give permission to restart production. Not good.

[zyper2] 10/5/2016 07:47

Not great to get this but, putting this in perspective, surely the last bit below shows it's not all doom & gloom, just a temporary setback! Though I must say some insider trading looks suspect judging bu yesterday's trades?

'During this temporary suspension of processing operations, the Company is taking the opportunity to effect a mill reline, undertake other preventative engineering maintenance and repairs (all of which were previously scheduled) as well as modifications to the detox circuit proposed by the expert consultants. Furthermore mining operations are continuing at New Liberty in order to build up ore stockpiles and undertake waste stripping. '

[ridicule] 10/5/2016 07:36

looking @ those after hours trades yesterday, more than toxic water leaked.

[someuwin] 10/5/2016 07:17

10 May 2016

Aureus Mining Inc.

TSX : AUE

AIM : AUE

NEW LIBERTY TEMPORARILY SUSPS GOLD PLANT OPERATIONS

Aureus Mining Inc. ("Aureus" or the "Company"), the TSX and AIM listed West African gold producer, reports that operations at the New Liberty Gold Mine ("New Liberty") have been temporarily suspended as a consequence of problems with the detoxification circuit in the process plant.

The detoxification circuit has not been operating to original design specifications resulting in higher concentrations of cyanide WAD (weak acid dissociated cyanide) in the process effluent. The Company had therefore been operating with process water in a closed circuit (zero discharge from the Tailings Storage Facility ("TSF")). Recent heavy rainfall inadvertently resulted in a small overflow of effluent from the TSF onto the wetlands area (within the mining lease area). Aureus is conducting remediation work to rectify the issues in the detoxification circuit and to manage future water discharge from the TSF in order for operations to recommence in the near future.

The Company's investigations to date indicate that there has been no adverse impact on any human settlement as the discharge took place within the mining lease and some five kilometres from the nearest settlement. However, further investigations are in progress and in view of this leakage, a decision was taken to suspend processing operations on 7 May 2016.

SRK Consulting (UK) Limited ("SRK"), are on site at New Liberty assisting Aureus engineering staff with the evaluation of the adjustments to be made to the waste neutralisation section of the detoxification circuit and the management of water discharge from the TSF in order for processing operations at New Liberty to recommence.

Aureus and Bea Mountain Mining Corp. ("BMMC"), a fully owned subsidiary of Aureus, are co-ordinating work with the Environmental Protection Agency of Liberia ("EPA") and the Ministry of Lands, Mines and Energy ("MLME") and local downstream communities in order to mitigate against any environmental related risks. The EPA is in the process of reviewing and approving the proposed remediation work required to rectify the detoxification circuit and to manage future water discharge from the TSF. Approval from the EPA and MLME is required before gold processing operations can recommence.

During this temporary suspension of processing operations, the Company is taking the opportunity to effect a mill reline, undertake other preventative engineering maintenance and repairs (all of which were previously scheduled) as well as modifications to the detox circuit proposed by the expert consultants. Furthermore mining operations are continuing at New Liberty in order to build up ore stockpiles and undertake waste stripping.

[valentine] 09/5/2016 18:08

6m trades after hours in 3 lots? uhhm? Not today;s trades imo.

[pottermagic2310] 06/5/2016 20:30

Possible rise to 6.97p !

[raymund] 06/5/2016 19:53

TSX now up to C$0.13 with nearly 6m traded so far today.

horneblower, Thanks for your POG update, looks as if they believe same in Canada.

[sleveen] 06/5/2016 11:41

SHG just had a $10m placing to restructure part of their loan ($25m) and they're producing similar amounts of Au as AUE.

I'd expect a placing soon IMHO.

[raymund] 06/5/2016 09:04

TSX closed up at C$0.12 last night

[horneblower] 05/5/2016 22:43

...which is looking promising. At least to $1,400+.

[beeezzz] 05/5/2016 22:34

What we really need is the POG to keep rising.!!!!

[pottermagic2310] 05/5/2016 21:17

Somebody selling now, ahead of another Placing or dilution due to Finance Terms sounds likely, suggesting an opportunity for us PIs should the share price drop some more and then good News and stability is announced. I'll be considering a little more action if such a scenario surfaces

[jimcar] 05/5/2016 20:38

A question arises as to who has bought them. New Liberty is oly a small part of Aureus's assets and following the problem of developing it alone i hope the board will be considering farm-ins/asset sales for the other assets. Redding has said on other occasions that there has been a lot of interest.

I think the immediate problem is whetheer they can mine enough ore to get the plant to target.

[mclayton3] 05/5/2016 19:10

Mr griffiths bought at the wrong time, let's hope he's reducing his holding at the wrong time too!

[sleveen] 05/5/2016 15:02

Sale of above 17% holding to 13.72%, is this good news?

[beeezzz] 05/5/2016 12:57

Blimey I've taken all the pain I can, another useless AIM company, they should rename it Vampire exchange;

[sleveen] 05/5/2016 09:54

That's the worry.

I'd have thought 8-9p would have been doable following the debt extension RNS.

Investors take some pain as well as the lenders?

[bsg] 05/5/2016 09:52

Looks like a placing due here to sweeten a deal, the ones in the know are leaving.

[beeezzz] 04/5/2016 22:24

Charts indicate gold going to $1450 in long term

[beeezzz] 03/5/2016 10:41

Is this good news; not reflected in share price that is for sure!!!

www.proactiveinvestors.com/companies/news/125465/aureus-mining-submits-redrawn-mine-plans-to-lenders-125465.html

[ridicule] 03/5/2016 08:18

pog $1300!!

[ridicule] 03/5/2016 07:58

Gold hit $1298 over night and is $1296.7 as I post. We could see $1300 today!

While the Banks may still grab some equity in the late repayment deal, the stronger gold price will have strengthened AUE's hand considerably and this deferral looks quite positive to me. I say this because the AUE resource (in the ground) analysis and the commercial production rates have been known by the Banks for sometime and the only changing element during these extended loan repayment negs is pog! If a significant variable such as pog was not in the mix, they would probably settled 2 months ago to the disadvantage of AUE shareholders.

If pog holds strong, as many predict, through May, then we could be in a more favourable position than I had anticipated a few months ago.

[michaelwhight] 02/5/2016 15:40

New Liberty Gold Mine: Debt Repayment Deferral and Mine Plan UpdateCanada NewsWireTORONTO, May 2, 2016Aureus Mining Inc.TSX : AUEAIM : AUETORONTO, May 2, 2016 /CNW/ - Aureus Mining Inc. ("Aureus" or the "Company"), the TSX and AIM listed West African gold producer, is pleased to announce that, following the announcement of 5 April 2016, the Company has received credit approval from its lender group (Nedbank Limited ("Nedbank"), Rand Merchant Bank ("RMB") and the Export Credit Insurance Corporation of South Africa Limited ("ECIC") (collectively, the "Lenders")) to further defer its first debt repayment to 31 May 2016.The Company and its consultant, SRK Consulting (UK) Limited ("SRK"), have completed a number of mine plan scenarios at varying gold price levels and these plans have been submitted to the Lenders as the basis for discussions with the Company, to mutually agree an appropriate debt repayment schedule.A further announcement regarding the updated life of mine ("LOM") plan for New Liberty will be communicated shortly.

[michaelwhight] 02/5/2016 15:37

Well we will have to get this tomorrow now it's in the public domain.