Avesoro Res. Share Discussion Threads

[valentine] 09/9/2016 14:11

Oh well spike says sorting placing. Drop today says sorted. Way of the se world. Wish I'd sold. Waiting for guillotine now.

[baldrick1] 08/9/2016 11:09

Two delayed buys of 1 million..guess they know mng not taking this private and next news would be on the positive side.imho

[shavian] 08/9/2016 10:15

It would have to be in Oz, wouldn't it?

[ukgeorge] 08/9/2016 10:00

Wotif.com Holdings Ltd Australia

[arf dysg] 08/9/2016 09:53

Is there a company with the ticker WTF ? I hope there is...

[baldrick1] 08/9/2016 09:00

Next update ...significant increase in gold production..imho.

[valentine] 08/9/2016 08:48

Over 3p. The buyers are back. Whew!!

[michaelwhight] 07/9/2016 17:15

AUE blue! WTF!!

[htrocka2] 06/9/2016 21:01

Canada have taken the news well...

[beeezzz] 06/9/2016 16:51

We just need a financial crash and gold passes $2,000 again, we are due a correction 8 years since 2008 crash.....debts levels in UK are above 2008 levels now, just have to see what the useless central banks do this week, nothing probably.

[ukgeorge] 06/9/2016 16:37

A minor positive is that "US$7.1 million cash for the inventory currently on site at New Liberty"

This effectively is slightly re capitalising the company, is likely mainly fuel imo.

Still probably still a long shot if these will ever get back to even 3p a share now.

[ukgeorge] 06/9/2016 16:20

MNG have 55% of 1.2Bn = 660M shares + 1.4Bn
MNG will have 2.06BN of a total 2.6Bn

Near enough 80%

[ukgeorge] 06/9/2016 16:15

US$ 37.4M
=
£ 28M @ 2p that's 1.4Bn more shares.......

I think current shares in issue is 1.2Bn

After they push it through 2.6Bn shares in issue would value the company at £52M or $70M

and the mine is still not making a profit.....

[beeezzz] 06/9/2016 11:31

As I've said before when your an AIM stock anything goes, PI's always get shafted happens time after time on AIM. When will the regulator or when will there be some regulation for a start.
www.proactiveinvestors.com/companies/news/156285/aureus-s-move-to-become-owner-operator-will-reduce-costs-156285.html
AIM MARKET BEST AVOIDED

[ukgeorge] 06/9/2016 11:29

From share price Angel

Aureus Mining (AUE LN) 2.4 pence, Mkt Cap £28.6m – Moving to owner operation at the New Liberty mine
• Aureus Mining reports it is to move to owner operated mining at its New Liberty gold mine in Liberia in an initiative which it considers “will significantly reduce the ongoing costs of mining operations and improve the operational and financial flexibility of the Company.”
• Management under the newly installed team from MNG Gold is continuing to review the cost base at New Liberty but “it is expected that the cost of adopting an owner operator model will be the most substantial cost arising from management’s review.”
• As part of the transition agreement with the current contractor, MonuRent, Aureus “will pay to MonuRent cash of US$15.4 million to take ownership of the mining equipment, US$7.1m cash for the inventory currently on site at New Liberty, US$7.9 million cash for invoiced receivables, approximately US$2.5 million cash for future uninvoiced receivables incurred by BMMC during July and August 2016 … and US$4.5million cash as a contract novation fee.”
• The company has also provided an update on progress at the mine, following the plant restart in June. The plant continues to experience periods of unscheduled downtime and has achieved only 66% availability over the last 65 days, “however better availability has been achieved in recent weeks.”
• The continuing work is focussing on optimising the ball mill grinding circuit and reagent consumption in the CIL circuit. “Since the restart of p[processing operations to date the Company has poured and shipped approximately 8,100 ounces of gold.” The detoxification circuit, where problems led to the original suspension of operations at the plant in May this year “has been operating at a stable level and performing to its design specifications following recent modifications. All discharges from the Tailings Storage Facility (“TSF”) have been within permitted levels … However, the Company is working in conjunction with its consultants to modify the layout and operation of the TSF … to allow for an increased retention time for process effluent and also to enable more control over future discharges.”

Conclusion: The decision to move to owner operation at New Liberty is aimed at providing management with greater control as well as reducing costs. With production since the restart of operations running at just over 90 oz per day of gold and continuing plant availability issues there is some way to go to stabilise operations but there are signs of progress

[valentine] 06/9/2016 11:21

Time to look for another goldie methinks. ORE had good RNS today. Better than expected. In the mountainous plains of Armenia. None of the problems encountered here. Maybe take a while but a much better prospect now.
I keep thinking Williams de broe(Investec) wanted me to stick a subtantial sum in aue @45p 4/5 years ago. It sounded a great story and they had a wonderful track record. I thought at 4.5p I couldn't go wrong, but how wrong can you be? A lot of people wmdeB must be very much more burnt than I. Small compensation.

[ukgeorge] 06/9/2016 11:20

How did you get to $32.9M ?

[pottermagic2310] 06/9/2016 10:52

So our new Lords & Masters are paying about $32.9million to a Rental Company (hxxp://www.monurent.com/about.html#board) for its Assets/Equipment, including TUPE of some key Staff in order to pursue long-term Cost Savings.
There's an additional $4.5million "sweetener" to terminate current Agreements with near-immediate effect - call it 'early termination) Compensation to the Rental Company.
That's actually a $37million investment by the new 'Parent'.
Current monthly Service/rental Costs are/were approx. $2million, so that Investment is offset after 18 months... except Equipment Service/Maintenance Costs will still accrue on a regular basis as a result of normal Operations.
Seems like good fiscal planning overall.

As Shavian posts above, the expected Dilution that lies ahead is the main worry now. Just how much more Equity will MNG Gold seek ? What will AUE be valued at when the time comes ?
Doesn't feel good and is very reminiscent of Vatukoula Gold !!!!
:-(

[bsg] 06/9/2016 10:23

Just scaremongering in my view, they need to tap the market for loads of dosh first.

[baldrick1] 06/9/2016 09:54

Do you think the new management were lying when they said they aren't taking the company private?

[redcloud] 06/9/2016 09:35

MNG has deliberately been putting -ve (negative) spin on updates since MNG taken over solely to crash share price. So they can buy the company for peanuts!

[robrah] 06/9/2016 08:45

u can't say u weren't warned

[valentine] 06/9/2016 08:35

Is this for real? Thought I was shafted last week but now looks like seriously bok-style end of stick. Daylight robbery and they get away with it.