Share Name Share Symbol Market Type Share ISIN Share Description
Avesoro Resources LSE:ASO London Ordinary Share CA05366A1049 COM SHS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 1.95p 1.90p 2.00p 1.95p 1.95p 1.95p 332,226 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -91.5 -8.1 - 103.62

Avesoro Share Discussion Threads

Showing 826 to 849 of 850 messages
Chat Pages: 34  33  32  31  30  29  28  27  26  25  24  23  Older
DateSubjectAuthorDiscuss
18/11/2017
18:42
Apologies- posted above.
dgarvey
18/11/2017
18:40
http://avesoro.com/2017/11/17/commencement-of-infill-drilling-campaign-at-new-liberty/
dgarvey
18/11/2017
08:51
Hi Pottermagic. What he says is: From about 6:00 "we have a much larger pit shell because of the lower operating costs that we're achieving there. There are around 300 thousand ounces at 3.3 g/t that's sitting at the bottom of the modeled pit shell That is currently in the inferred category so it is not included in the NPV. We're planning to drill that in the next couple of months so even with a conservative conversion of maybe 2 thirds we are looking at a couple of hundred thousand ounces at the bottom of the pitshell right next to the process plant. So that will add approximately 100, 120 million to the NPV of the New Liberty project and obviously we have the other exploration upside that we have talked to historically......." He also mentions other potential reserve upgrades at the acquired mines, including another 100k oz a Youga that wasn't included in the 43-101 report that formed the basis of the valuation for the acquisition. HTH Edit: There is an new presentation on the website : http://avesoro.com/wp-content/uploads/2017/11/Avesoro_Nov17_Precious_Metals_Summit.pdf
stevie blunder
17/11/2017
17:11
You would think/hope so if it's sourced from historical waste/infill and easier to get at ?
pottermagic2310
17/11/2017
09:06
If you listen to the interview I linked to above the CFO said that these ounces (if they exist) will be very profitable adding about 120M$ to the NPV. Worth a listen. :-)
stevie blunder
17/11/2017
08:51
yes so with the current cost that 300koz will translate into a loss of about $30M!!!! But, yes positive news and another step in the right direction :)
ukgeorge
17/11/2017
08:48
A potential 300,000 oz in an historical infill ?!!!!! That would be a nice bonus - assuming it will be cheap & cheerful to extract ? That is £360m of Gold assests (less costs, etc) ?!!!!! http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ASO/13434960.html
pottermagic2310
13/11/2017
10:59
Still pretty diabolical results. Hopefully a better quarter next. Still high risk, but worth a small punt.
ukgeorge
13/11/2017
10:12
Interesting News, along with previous announcements.... http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ASO/13428551.html
pottermagic2310
13/11/2017
09:16
Q3 results don't have any surprises that I can see. I found this encouraging: "The Company also expects to complete an in-fill drilling programme to upgrade the resource classification of clearly identified in-pit resource upside during Q1 2018 and add several additional years to the LOM." Edit : there is an interview about the acquisition on the Avesoro website. : https://www.brrmedia.co.uk/broadcasts-embed/59edba2f9187835b1232a273/event/?livelink=true&popup=true
stevie blunder
31/10/2017
23:41
Whilst I like the scaling up idea, i sat there scratching my head about purchasing assets from the group. I feel uneasy about it but the market liked it unless that UKG that bumped it up with his purchase
the bull
31/10/2017
21:33
but am I actually right with my observation ? I'm not at all sure this is a positive thing at all and it looks very much like only the Owner is really benefiting... to tune of many 10s of millions.
pottermagic2310
31/10/2017
14:52
Stevie thanks. Potter, imo it is a good deal and derisks ASO and that is why I have added.
ukgeorge
31/10/2017
14:17
Hmmm ???? Really not sure about this at all. The "Parent" has milked something somewhere for many, many, many millions to right-shift its own Companies under one umbrella (ASO), diluting the hell out of all existing Shareholders (except the real Owner obviously) and I think this means the real Owner has 'banked' many 10s of millions for.... some paperwork and issuing billions of penny shares ?
pottermagic2310
31/10/2017
13:47
Read on, they plan a 100:1 consolidation in the new year :-)
stevie blunder
31/10/2017
12:29
It is turning into quite an interesting play. I've bought £6k worth. Like you say having three mines reduces the risk. I do wish they would do a share consolidation at some point.
ukgeorge
31/10/2017
09:01
That looks like a reasonably priced deal. And it creates a Multi mine company which dilutes risk and expands exploration. I wonder if they raised as much cash as they wanted to? I remember from one of the presentations that they expected the MNG holding would be diluted. That hasn't happened, still at 73%. With 230k oz next year at 660 cash costs, 1250 gold price cash flow would be over 130M Cant see pro-forma figures for All in Sustaining Costs AISC. Around 2.8 Billion new shares to be issued, 5.3 existing giving 8.1 billion so market cap about 160M$. Debt in New Liberty 113M$. Don't know debt in the acquired companies at the moment. I think it looks OK.
stevie blunder
27/10/2017
07:45
October presentation on the website: http://avesoro.com/wp-content/uploads/2017/10/ASO_Corporate_October17_1.2.pdf Slide 4 says that the consolidation of the 2 MNG mines is expected in October, so must be imminent. My guess is that this is the presentation the management have been using as they go round institutions flogging new shares to allow the transaction to go ahead. Guess that could explain the recent weakness.
stevie blunder
11/10/2017
14:44
That's an excellent summary from share price Angel. Really puts everything into perspective.
pottermagic2310
11/10/2017
10:44
From share price angel Avesoro Resources (ASO LN) 2.15pence, Mkt Cap £114.5m – New Liberty resource/reserve update and new mine plan • Avesoro Resources reports an updated mineral resource/reserve estimate, a revised 2017 production estimate as well as September 2017 quarterly production results and a revised annual production profile to 2021. • The resource and reserve report, which was produced by the consulting group SRK and follows Canadian CIM Standards, updates the previous, October 2012 estimate to reflect mining depletion as well as “the use of an open pit depth constraint … which limits the depth to which open pit material is now reported”. • Overall, the measured and indicated resource of 9.6mt at an average grade of 3.2g/t gold represents a “14% reduction in metal content within the Measured and Indicated categories from 1,143 koz to 985koz.” The latest estimate reports an additional 6.4mt at 3g/t gold (620,000oz) classified as inferred. • In reporting the updated Proven and Probable reserve estimate of 7.4mt at an average grade of 3.03g/t (717,000oz) at a cut-off grade of 0.85g/t, the company states that “Since the commencement of mining operations at New Liberty in Q4 2014 to the end of July 2017, some 1.8Mt of ore has been mined and processed at an average grade of 2.5 g/t and containing 145koz of gold.” • Production from New Liberty during the September quarter amounted to 19,885oz of gold “representing a 26% increase on the previous quarter, bringing year to date production to 50,615 ounces of gold.” • The company has revised its production guidance for 2017 to 70-80,000 oz at an operating cash cost of US$900-950 per oz, implying that it expects to more than match the Q3 production performance during the final quarter of the year. The company attributes the reduction in 2017 production guidance from the previous 90-100,000oz to “a lack of grade continuity in the mineralisation within the Marvoe pit, which resulted in a shortfall in mining production of approximately 10,000 ounces when compared to the original mine plan for 2017, which the Company will not be able to recover before the end of the year.” • The company reviews the remedial measures it has implemented since the change of management a year ago. o Process plant throughput has been increased by 42% to 200tph and recovery levels of 91-93% have been achieved o Crushing capacity has been increased to 280tph through modifications including the addition of a tertiary cone-crusher o Measures, including improved mill liner life and reduced consumables usage have improved rushing circuit availability o Additional plant upgrades including increased oxygen capacity have improved “pre-oxidation, leaching and detox performance” o Plans are underway to add a second gravity concentrator “to increase gravity gold recovery levels towards the 60% planned in the original plant design” o The increased throughput rates have reduced the life of the New Liberty mine to 4.5 years and Avesoro has provided a revised annual production profile to 2021 providing details of a planned average 149,000oz annual production over the remaining mine life. o According to company estimates using a gold price of US$1300/oz, at a 5% discount rate, the revised plan generates a post-tax NPV of US$179m after debt repayment and associated finance charges, through the production of 642,000oz of gold at an operating cash cost of US$659/oz (All-in-sustaining cost of US$749/oz). Conclusion: Avesoro’s new mine plan reduces the life of the New Liberty Mine but ensures a positive NPV and the repayment of debt. The lower production guidance for 2017 implies that production is picking up and that production rates are expected to improve during the remaining life of the mine.
ukgeorge
11/10/2017
09:20
I think the NPV refers to the remaining LOM of 4 years, so any upside depends on bringing those 315k inferred oz into reserves and the extending the life further through near mine exploration to keep feeding the plant. Also underground development is being looked at.
stevie blunder
11/10/2017
08:56
If gold rises and it should come the next financial crisis, this should shoot up i would have thought.
the bull
11/10/2017
08:17
Just bought some @ 2.15p Results looked okay and they continue to turn it around, more mining equipment on its way
ukgeorge
11/10/2017
07:43
Not so sure, post tax NAV of just $179m with 5325m shares in issue is worth 3.36c (2.54p) per share. Add in execution risk + gold price volatility and I can't see any attraction here.
pimsim
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P:43 V: D:20171212 10:19:39