Avesoro Resources Share Discussion Threads

[jimcar] 13/4/2017 16:55

I don't know why you are so adamant that "120k was and remains in perpetuity unachievable".

The original plan was for an average of 120k pa in first 6 years which implies the ability to produce more than 120k in any 1 year. Management usually set themselves relatively easy (and certainly achievable) targets. It is likely that Reading's failure was to the lack the skills necessary to deliver the plan rather than in the plan itself.

In the 2016 presentation the new team planned for 100k in 2017 so I don't see why a plan for 120k in say 2018 is totally unbelievable. Indeed as stevie points out it is essential that they hit almost 10k per month in the 2nd half to achieve their own target for this year.

[pottermagic2310] 13/4/2017 09:47

Except AUREUS IS a failed Business, so their Vision was flawed, their Goals flawed and 120k was and remains in perpetuity unachievable - that's a basic Fact of that particular matter.
I think the new Business Leaders and people operating the Mine day-to-day are a much better outfit, setting much better expectations and all being well, they will hit at least 90k.
Barring any external influences/incidents beyond the Business's control, I can see this flourishing next year.

[jimcar] 12/4/2017 22:43

Well the old Aureus plans under Reading were for 120K per year so 55K should be within the bounds of the possible.

[stevie blunder] 12/4/2017 15:37

"The Company will continue to focus upon catching up on the waste cutbacks throughout Q2 2017 in preparation for the onset of the wet season, which will result in gold production for 2017 being weighted towards the second half of the year."

Guidance for the year is still 90-100K oz, so if they do 20k in Q2 after 15k in Q1 then they need to do 27.5k in Q3 and Q4 just to get to the bottom of guidance. If that becomes the run rate going forward then we can expect forecast production to rise in 2018.

(Takes off rose tinted glasses) I'll believe it when I see it :-)

[beeezzz] 12/4/2017 15:18

Gold crosses 200dma all looking positive, if only ASO could get it out the ground a bit more efficiently...

[pottermagic2310] 11/4/2017 08:46

Reasonable progress, stable/productive operations, a profitable future ahead - barring any disasters

[pottermagic2310] 03/4/2017 08:52

Good News !

[pottermagic2310] 30/3/2017 11:41

Thank you, fully up-to-speed again now. Still think this may come good in the future

[stevie blunder] 29/3/2017 17:18

CEO interview about the results


edit: with very annoying music.......;-)

[stevie blunder] 29/3/2017 11:40

Hi Pottermagic.
The way they release results has been in the past a bit confusing. Debt was "de-emphasised" under Mr Reading IMO. The RNS is just a press release but the full financial results are available on the website and on sedar.com.

Here is a link to the FY2015 financial report where you can see the company's debt at the end of 2015:



The mine was financed with 110$M debt and other debts to suppliers were incurred during the omnishambles that was 2016. The Turkish money went into paying off the outstanding debts to suppliers and debt interest and paying down the debt to 96M and providing working capital. After the renegotiation with the bank there will be debt repayments starting in 2018 and running to 2022.

There is a presentation from Feb linked in the header which includes a graphic of the debt repayment schedule.

Hope that helps.

[pottermagic2310] 29/3/2017 10:19

Seems to be promising still - potential £30m Profit on operations/Sales for the forthcoming year.

A little puzzled by the huge Debt pile which I don't recall encountering in all previous Results/Financials ?

How did the new Turkish owners 'invest' what was around 70m (vaguely) to 'buy' the Business AND acquire a massive shareholding BUT now it looks like it was done via Bank Loans?
Have I misunderstood what's been reported here (both during the Takeover) and the current Debt/Loans statements today ?

[stevie blunder] 29/3/2017 09:20

Encouraging, but....still jam tomorrow with Q1 2017 production being below Q4 2016.
I dont think they will regain the market's confidence until we actually see a couple of quarters with full production and cost according to plan.
If they do deliver the plan and increase LOM then lots of upside, but it was ever thus ;-)

[ukgeorge] 29/3/2017 09:17

It is a complete weasel, hope it struggles to get a new job, but no doubt he will end up at another terrible Aim company. Over paid and never had a meaningful share holding, he would lie to your face and pretend he had a meeting so he could run off from difficult questions.

[shavian] 29/3/2017 08:49

Very encouraging RNS this morning. Maybe these guys are serious after all. Glad I maintained my holding. Perhaps we'll see some action in the share price Makes you realise what an amateur crew poor old David led.

[ukgeorge] 28/3/2017 13:04

Fingers crossed yes, but don't forget 2007 gold fell as with everything else to start with.

[the bull] 28/3/2017 12:55

Gold has got to rise surely, the clever money is already investing in gold for when the Fiat currency suffers in the next banking crisis to be soon upon us.

[ukgeorge] 28/3/2017 09:41

Yep, hopefully you can double from here. The quick money was from 1.5p though. Now the company needs to get the mine finally running to plan. Added higher gold prices and 4p should be possible.

[the bull] 21/3/2017 11:08

Well UK, how dare you sell without warning us. Some movement up today after a lull so maybe something afoot soon. Was tipped these at 24p but only had them on watch thankfully. So gamble money really but showing 50%+ so far. Do feel I can double it from here though so wont be exiting like UK

[ukgeorge] 08/3/2017 22:00

well I've been selling these, down to the last 100k, its been a nice move. but can't ignore a 50% gain in such a short period. hopefully the new team get the mine up and running to what was promised so many times in the passed.

[stevie blunder] 20/2/2017 11:15

Short video interview with the chief exec:



Also Feb Presentation now on website:

[beeezzz] 15/2/2017 17:40

Bull...Well that's 100% from where we are, bit ambitious wouldn't you say

When do we get the next leg up....

[the bull] 09/2/2017 16:48

5p would nice, I'm going with 5p

[condom2] 09/2/2017 14:43

so over sold 26.5p

[beeezzz] 07/2/2017 17:41

Not quite Hmm

Did we do a sweep stake on where this will be at YE:

[ukgeorge] 07/2/2017 10:28

roll on 2.5p