Avesoro Resources Share Discussion Threads

[ukgeorge] 09/1/2018 09:09

a hell of a lot of shares in issue.......

[pottermagic2310] 09/1/2018 08:49

1.7p and £100m MCap ??!!!!!

[pottermagic2310] 05/1/2018 17:16

This is now far less about "THE" Mine and much more about the "MINES"... and all that consolidated Debt and promise of significant Cost reductions and improved Profitability.

Too many inter-Group Company shenanigans this past year for my liking BUT stuck with them regardless.

[ukgeorge] 05/1/2018 15:07

Hi Dozey, I sold out of these got bored, but keep an eye on them. A higher gold priced would definitely help. Also a holder of HUM, also Fres and CEY in the precious metals space.

I guess the next quarterly results will help to show if the mine is finally heading in the right direction.

[dozey3] 05/1/2018 14:56

My silly little holding has gone into the 'too difficult' box with the label 'do not disturb'. On balance I guess the 100% downside risk is outweighed by the possible upside propelled by POG and sentiment, esp if political shock upsets markets. Rather larger holding in HUM.

[renixus1] 29/12/2017 09:05

George Weah wins presidential election, did some good business on the football field, may be good for economy developments like this one we'll see.

[pottermagic2310] 14/12/2017 21:37

All I know is that ultimately there appears to be one Parent Company that's doing alot of number juggling with plenty of smoke & mirrors, moving this and that from here to there and none of us Shareholders are actually benefiting at all.

I see the orchestrators claim ASO will benefit due to the overall consolidation of Resources, shared Ops and improved derived benefits/profitability... BUT will that really be true, when all 3 distinct Operations were already owned/being run by one primary Parent entity when all is said and done ?

[stevie blunder] 14/12/2017 13:32

Acquisition gone through, and the share consolidation approved. Date of consolidation to be announced later.

I make the new Market Cap to be 159M (8.15 Bn shares 1.95p)

Now is that cheap? Answers on a postcard please......

[roguetreader] 12/12/2017 15:54

At face value I believe it looks to be good news. Geoff Eyre stated in his recent webcast ASO would not be able to get finance terms circa 5.5%/6.5% if they were still wholly independent i.e. terms would almost certainly be more expensive and also likely secured v assets, where this deal is unsecured.

I notice that their updated December presentation v the October presentation shows cash down from $2.8M to $2M, where some of the additional costs in todays RNS (circa $0.24M) will have contributed to this. Also their debt has increased by $3.2M, which I assume means they have already taken on board some of the new HME being financed via today's announcement.

Their challenge is to ensure these deliver the promised improvements, but IMO looks good so far.
RT

[dgarvey] 18/11/2017 18:42

Apologies- posted above.

[stevie blunder] 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 :

[pottermagic2310] 17/11/2017 17:11

You would think/hope so if it's sourced from historical waste/infill and easier to get at ?

[stevie blunder] 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. :-)

[ukgeorge] 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 :)

[pottermagic2310] 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) ?!!!!!

[ukgeorge] 13/11/2017 10:59

Still pretty diabolical results. Hopefully a better quarter next. Still high risk, but worth a small punt.

[pottermagic2310] 13/11/2017 10:12

Interesting News, along with previous announcements....

[stevie blunder] 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. :

[the bull] 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

[pottermagic2310] 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.

[ukgeorge] 31/10/2017 14:52

Stevie thanks.

Potter, imo it is a good deal and derisks ASO and that is why I have added.

[pottermagic2310] 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 ?

[stevie blunder] 31/10/2017 13:47

Read on, they plan a 100:1 consolidation in the new year :-)