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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Avesoro Resources Inc       CA0515471070

AVESORO RESOURCES INC
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Avesoro Resources : Filing of special meeting materials and NI 43-101 technical reports

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11/10/2017 | 03:32pm CEST

TSX: ASO
AIM: ASO

TORONTO, Nov. 10, 2017 /CNW/ - Avesoro Resources Inc. ("Avesoro" or the "Company"), the TSX and AIM listed West African gold producer, is pleased to announce that, further to the Company's announcement dated 31 October 2017, the special meeting of shareholders of the Company will be held at the offices of Pillsbury Winthrop Shaw Pittman LLP, Tower 42, Level 21, 25 Old Broad Street, London, EC2N 1HQ, United Kingdom, on Thursday, 14 December 2017 at 11:00 a.m. (Greenwich Mean Time).

The Company has today filed its notice of meeting, management information circular, and independent technical reports pursuant to National Instrument 43-101 with respect to each of the Youga Gold Mine and Balogo Gold Mine, and other meeting materials on www.sedar.com. An electronic copy is also available on the Company's website at www.avesoro.com.

About Avesoro Resources Inc.

The Company's assets include the New Liberty Gold Mine in Liberia (the "New Liberty Gold Mine," "New Liberty" or the "mine") which has an estimated proven and probable mineral reserve of 7.4Mt with 717,000 ounces of gold grading 3.03g/t and an estimated measured and indicated mineral resource of 9.6Mt with 985,000 ounces of gold grading 3.2g/t and an estimated inferred mineral resource of 6.4Mt with 620,000 ounces of gold grading 3.0g/t.  The foregoing Mineral Reserve and Mineral Resource estimates and additional information in connection therewith will be set out in an NI 43-101 compliant Technical Report for the New Liberty Project to be filed on SEDAR within 45 days of this press release.

The New Liberty Gold Mine is located within the Southern Block of the 100% owned Bea Mountain mining licence. This licence covers 478 km² and has a 25 year, renewable, mineral development agreement. The Bea Mountain mining license also hosts additional gold projects of Ndablama, Gondoja, Weaju and Leopard Rock which host indicated and inferred mineral resources. The Company also owns the Yambesei (473 km2), Archaen West (56 km2), Mabong (36.6 km2) and Mafa West (15.6 km2) licences, in addition to a gold exploration permit in Cameroon.

Qualified Persons

The Company's Qualified Person is Mark J. Pryor, who holds a BSc (Hons) in Geology & Mineralogy from Aberdeen University, United Kingdom and is a Fellow of the Geological Society of London, a Fellow of the Society of Economic Geologists and a registered Professional Natural Scientist (Pr.Sci.Nat) of the South African Council for Natural Scientific ProfessionsMark Pryor is an independent technical consultant with over 25 years of global experience in exploration, mining and mine development and is a "Qualified Person" as defined in National Instrument 43 -101 "Standards of Disclosure for Mineral Projects" of the Canadian Securities Administrators and has reviewed and approved this press release.

SOURCE Avesoro Resources Inc.

© Canada Newswire, source Canada Newswire English

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Financials ($)
Sales 2018 301 M
EBIT 2018 55,8 M
Net income 2018 72,0 M
Debt 2018 62,8 M
Yield 2018 -
P/E ratio 2018 3,99
P/E ratio 2019 4,26
EV / Sales 2018 1,19x
EV / Sales 2019 1,14x
Capitalization 294 M
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Consensus
 
Mean consensus BUY
Number of Analysts 1
Average target price 4,74 $
Spread / Average Target 33%
Managers
NameTitle
Serhan Umurhan Chief Executive Officer & Director
Mehmet Nazif Günal Non-Executive Chairman
Geoff Eyre Chief Financial Officer & Director
David George Netherway Independent Non-Executive Director
Jean-Guy Martin Independent Non-Executive Director
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