Avesoro Resources Share Discussion Threads

[the bull] 11/6/2019 10:10

Blimey, i wasn't expecting a further big fall like this, looks like i will be adding this loss to my others to use against future capital gains

[jc2706] 11/6/2019 09:06

Baron Day Trading has had his share of shockers over the last couple of years but who hasn't? I believe that he is reasonably open about his positions but he 'talks his own book' like anyone of his ilk. Or, indeed, like any of us!

If you play the AIM game then you have to take your winners when they come and accept your losers. The losers can be big but the winners can be much bigger.

[escapetohome] 10/6/2019 22:20

Timing as always is king, wait till they fall first to this level, and then evaluate.

How much to gamble?

Perhaps a few hundred here.

[beeezzz] 10/6/2019 21:44

What a bummer.. It doesn't surprise me all my shares never seem to go sky rocketing up always the opposite... Luckily I also have a small holding...

[escapetohome] 10/6/2019 17:56

Oh dear!

Have a look at INFA.

You may do well.

[ashkv] 10/6/2019 10:03

Thankfully only a few thousand invested but the firm's management needs BE PUT BEHIND BARS

How can they release a resource estimate for Youga mine area in May 2019 and just a few weeks later state that this is not being borne out - SEEMS LIKE A STITCH UP TO STEAL THE FIRM'S ASSETS!!!

HIRING CONTRACTORS TO REDUCE COSTS BUY AISC GOING UP WTF!!!!

AND WHO ARE THESE CONTRACTORS - SOME TURKISH ASSOCIATES OF THE CRIMINAL PROMOTES ASSOCIATED WITH THIS FIRM - SHAMBLES.... UNBELIEVABLE!!!!!!!

[ashkv] 10/6/2019 10:02

CRIMINAL MANAGEMENT AT AVESORO - NEED TO BE LOCKED UP

How can they put the below presentation on the 3rd of june - knowing what they did about the problems from April & May with prior forecasts.

Consider the investor that bought based on the presentation - this is CLEARLY WRONGDOING ON THE PART OF AVESORO MANAGEMENT!!!!

CRIMINALS THIEFS CORRUPT LOT

hxxps://avesoro.com/wp-content/uploads/2019/06/Avesoro_June19_Corporate.pdf

[ashkv] 10/6/2019 10:01

To think Avesoro bought the stinking mine just 1.5 years ago for US $69 million from Turkish controlled entity Avesoro Jersey. THIS IS A CRIMINAL FRAUD - IN THE US THESE THIEVES WOULD BE LOCKED UP FOR 10-20 YEARS EASY!!! USELESS FCA / UK PROSECUTORS PROBABLY WILL DO NOTHING!!!!

SELL IT BACK FOR $69mn + Capital investments + Interest

The poor suckers who bought at 190p - let alone at the IPO only 2.5 years back at 160P

CORRUPT CORRUPT CORRUPT!!!!

Proposed Acquisition & Placing
Tue, 31st Oct 2017 07:00

RNS Number : 0644V
Avesoro Resources Inc.
31 October 2017

ighlights of the Acquisition

Consideration

·     US$69.5 million acquisition consideration to be funded through:

o US$51.0 million of Common Shares issued to Avesoro Jersey at the Placing Price being 2,033,492,822 new Common Shares ("Consideration Shares"); and

o US$18.5 million of cash raised via the Placing.

Â

Strategic

·   Transformational acquisition for the Company which will add two producing mines to the Company's portfolio;

·     The transaction will simplify the management structure by bringing two mines into the Company from the wider Avesoro Jersey group. Following the Acquisition, Avesoro Jersey's shareholding in the Company will remain at approximately 73 per cent.;

Located in the “Centre-Sud221; region of Burkina Faso
Acquired from Avesoro Jersey in December 2017
Strong cash flow generative assets
Production: 90,000-100,000 oz forecast for 2019
Combined proven and Probable Mineral Reserves of 14.74Mt containing 814,900 ounces of gold grading 1.72g/t
Combined Measured and Indicated Mineral Resource of 22.16Mt containing 1,189,100 ounces of gold grading 1.67g/t and Inferred Mineral Resource of 7.6Mt containing 377,000 ounces of gold grading 1.5g/t

[roguetreader] 10/6/2019 09:28

Likewise, I thought the new management under the Turkish ownership had a strong handle on the operations and managment of the mines. Hands up,I was wrong big time here. A lot of work to turnaround IMO. The fact they are so far off base with the grades not only in in Youga but also New Liberty is a worry, given the significant investment made in drilling out the ore bodies n the last 12 months. Where are the grade models they are working to???

[hermanngoring] 10/6/2019 08:42

BUST soon.

[dozey3] 10/6/2019 08:38

Sounds like mega management failure, and has entered barge pole territory imo.

[the bull] 10/6/2019 08:09

oh dear and who was predicting this could double when at £1.60, overdone reaction here as usual

[frrinvest] 20/5/2019 08:53

Got to be bottom here by now. finncap price target 302p. DYOR!

[avsome1968] 17/5/2019 07:57

Hmmmmmmm got to be near bottom this selling about done.

[stevie blunder] 08/5/2019 12:03

Yes, in that presentation they say explicitly that he wont invest any more and that they will be issuing shares for further acquisitions. If you are an institution and like the story, then your best bet is to wait for a placing rather than buy in the market. What you don't want to do is bid up the price in the market and make any placing price higher.......

The presentation is worth a listen
They said that they had broadened their search area from just west Africa to the whole of Africa excluding South Africa.

[frrinvest] 08/5/2019 10:18

I gather more investment will be needed as the big guy won't put anymore money. Hence the depressed SP? Any views?

[stevie blunder] 08/5/2019 08:49

Interesting that NPV at 5% discount rate ( a bit on the low side IMO) is now :-

US$428.6 million after project and equipment finance debt repayments of US$100 million, and the combined project level post-debt and post-tax


Market cap now £88M or $114M.

Hopefully that gap will close somewhat.

Edit : I managed to miss this presentation: April 2019