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Market: AIM
52-week High/Low: 13.50p / 1.58p
Sector: General Mining - Gold
Market Cap: 18.42M
Phone: +44 (0)20 7257 2930
Address: 20 Southampton Street, London WC2E 7QH.
Aureus Mining Inc

Aureus Mining Inc

Aureus Mining Inc. is engaged in the exploration and development of gold deposits in highly prospective and under-explored areas of Liberia and Cameroon.

Aureus Mining Inc

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Big picture - Why invest in Aureus Mining Inc

Aureus Mining Inc Snapshot


Aureus Mining Inc, through its subsidiaries, is engaged in the exploration and development of gold deposits in highly prospective and under-explored areas of Liberia and Cameroon. Aureus Mining’s activities are currently concentrated on the development of the New Liberty Gold Project in Liberia. The Company also owns 100% exclusive rights to the Weaju, Gondoja, Ndablama and Leopard Rock projects in Liberia and to the Batouri gold project in Cameroon.

Our Vision is to be an African mid-tier gold producer with a brand recognised for sustainability, innovation and good relationships with the local communities.  We will create value for all stakeholders by achieving the Aureus Mission of:

Producing profitable gold ounces, responsibly, from New Liberty Gold Mine and the other mines that are successfully developed

Increasing our resources and expanding our project pipeline

Strengthening and leveraging our exploration, development and production teams

We will achieve these objectives keeping faith with our Company values and through good corporate governance.  We will maintain and develop local stakeholder support through our employment and training practices and through our sustainability initiatives.


The Republic of Liberia is situated on the coast along the south-west corner of West Africa, bordered by Sierra Leone, Guinea and Cote d’Ivorie

Africa’s oldest republic, founded by freed American and Caribbean slaves in 1847

Democratically elected government since 2006

Africa’s only female president, Madame Ellen Johnson Sirleaf re-elected in 2012 for a second term of five years. Awarded the Nobel Peace Prize in the same year

Since the end of the civil war in 2003, Liberia has experienced a period of reform and reconstruction under President Ellen Johnson-Sirleaf

IMF predicts real GDP to increase by 8.8% in 2013

Economic growth is projected to expand by c.8% in 2013 and c.5.5% in 2014, supported by the further development of the mining sector and concession-related foreign direct investment.

One of the highest levels of FDI in West Africa (relative to GDP)

High level of GDP growth forecast by the IMF. Higher than many other West African countries

Sustained UN and US commitment

Rated second best country in West Africa after Ghana by Transparency International

First country to become compliant with the Extractive Industries Transparency Initiative (EITI)

US$18 billion foreign direct investment committed to date, mainly for the mineral, oil and agricultural sectors

Attractive fiscal code and lowered levels of corruption to attract external investment

Companies in Liberia – ArcelorMittal, Severstal & Vedanta (iron ore), Hummingbird (gold), African Petroleum, Chevron, Exxon & Total (oil), Firestone (rubber) & Sime Darby (palm oil)

Robust mining law based upon well-established Australian system

Region underexplored for gold

For more information, please click here


Diverse Economy

Stability since unification in 1962 has led to development of agriculture, roads, railways and the petroleum industry

15% of land is used for agriculture

Oil production of approx. 65,330bbl/day

GDP of $26Bn with growth of 3.8% in 2011

Strong Power Potential

Current national grid capacity 1,017MW, with 95% from hydroelectric

Government targeting 3,000MW by 2020

Among the greatest potential for hydroelectric power in Africa

216MW gas power station planned at Kribi for 2012

205MW Mvele’elle dam due to be on-line 2016

Infrastructure Expertise

Government experienced with large infrastructure projects. E.g. COTCO: 886km of oil pipeline built in Cameroon, for Chad exports

Supportive of Mining Industry

Attractive mining code: 2.5% royalty. 10% free carried for Government

Both English and French used as official languages



David Reading

CEO & Director:

Mr Reading has significant expertise in the global mining industry with over 35 years’ experience across the fields of exploration, feasibility, project development and mining. Mr Reading has an MSc in Economic Geology and has held senior positions with leading mining companies. He is the former CEO of European Goldfields and the former General Manager of African exploration for Randgold Resources. In addition, he has held senior exploration and project development positions for Anglo American and Phelps Dodge.


David Netherway

Non-executive Chairman & Director:

Mr Netherway is a mining engineer with over 35 years of experience in the mining industry. Mr. Netherway received a B.E. in Mining Engineering from the University of Melbourne in 1975 and a Certified Diploma in Accounting and Finance from the Chartered Association of Certified Accountants in the United Kingdom in 1985. He was until the takeover by Gryphon Mineral Ltd (GRY-ASX), the CEO of Shield Mining Limited, an Australian listed company exploring for gold and base metals in Mauritania. Prior to this, Mr Netherway served as the CEO of Toronto listed Afcan Mining Corporation, a China focussed gold mining company which was successfully taken over by Eldorado Gold. He is also a former director of Afferro Mining Inc., Gryphon Minerals inc., GMA Resources plc, Orezone Resources Inc. Kazakhgold Ltd and Equigold NL. Mr Netherway is a mine developer and operator who was involved in the construction and development of the Iduapriem, Siguiri and Kiniero gold mines in West Africa and has extensive worldwide mining experience.

Mr Netherway is currently the Chairman of Aureus Mining Inc.(TSX:AUE & LSE:AUE), Kilo Goldmines Inc. (TSX:KGL) and Altus Strategies Ltd and a non-executive director of Crusader Resources Ltd (ASX:CAS), Altus Global Gold Ltd (CISE:AGG), Altus Resource Capital Ltd (LSE:ARCL & CISE:ARCL) and Canyon Resources Ltd (CAY:ASX).


Adrian Reynolds

Non-executive Director:

Mr Reynolds has more than 30 years in the exploration, development and mining industry with a focus on gold. He has an MSc in Geology and a GDE in Mining Engineering. Adrian was part of the executive team at Randgold Resources that developed the highly successful company strategy and was responsible for compiling the feasibility studies for the Morila, Loulo and Tongon gold mines all situated in West Africa. Currently he is an independent consultant and is also a non-executive director of Digby Wells Environmental, one of the foremost mining environmental consultancies in Africa.


Jean-Guy Martin

Non-executive Director:

Mr. Martin is a chartered accountant and a certified public accountant (Illinois) with over 35 years experience in the financial reporting, auditing and transaction areas. Mr. Martin has recently retired from PricewaterhouseCoopers LLP (“PwC”) after serving 35 years with the Firm in Canada of which the last 25 years were as a partner. Mr. Martin has advised various multinational companies looking to complete acquisitions and divestitures. Mr. Martin has held a number of senior partner positions during his career with PwC. His industry experience spans many market sectors, including mining, energy and utilities, industrial products, and forest and paper. He has assisted numerous international clients, such as Rio Tinto Alcan, Bain Capital, Blackstone, Domtar and Hydro-Québec in several cross-border transactions.

Loudon Owen photov2.fw

Loudon Owen

Non-executive Director:

Mr. Owen is an international businessman and lawyer. He co-founded and manages McLean Watson Capital, a private Toronto-based venture capital company. Mr. Owen has extensive public and private company Board experience and he currently serves on the boards of a range of private corporations including Quantec Geoscience Limited (Chair), as well as Kilo Goldmines Ltd. (TSX-V), Genesis Land Development Corp., and Posera-HDX (TSX, Chair).
Mr. Owen holds a BA (Economics and International Relations) from Trinity College, University of Toronto, a J.D. from Osgoode Hall Law School, Toronto, and an MBA from INSEAD in Fontainebleau, France.


Karin Ireton

Non-executive Director:

Ms Ireton is a leader in the sustainable development field and until 2014 served as Head of Group Sustainability Management at Standard Bank (“Bank”). During this time she was responsible for building the Bank’s environmental and social risk policy, its human rights policy, protocols and tools and embedding these across the Standard Bank Group. Prior to this Ms Ireton worked for Anglo American where she developed Anglo American’s responses to the sustainable development agenda and developed toolkits on mine planning for sustainable development and mine closure, water strategies and climate change response strategies.


Corporate Offices

Registered Office
200 Bay Street
Suite 3800, Royal Bank Plaza
South Tower
Ontario M5J 2Z4

UK Representative Office
1st Floor Burleigh House
355-359 Strand
London, WC2R 0HS
United Kingdom
T: +44 (0) 20 7010 7690
F: +44 (0) 20 7010 7699

Exploration Offices

Bea Mountain Mining Corp.
Allison Street
Congo Town
Tel: +231 888 938 597

All Cameroon subsidiaries

BP 14364

Joint Broker & Nominated Advisor

Numis Securities
10 Paternoster Square


BDO Stoy Hayward
55 Baker Street
London, W1U 7EU
United Kingdom

Corporate Secretary

LV Conseil Institutionnels
3700 Griffith, Suite 327
Saint Laurent
Quebec, H4T 2b3

Financial Public Relations

Bobby Morse
107 Cheapside
Tel +44 (0) 207 466 5000
Fax +44 (0) 207 466 5001

Legal Counsel

Norton Rose Fulbright LLP
Royal Bank Plaza
South Tower, Suite 3800
200 Bay Street, PO Box 84
Toronto, ON M5J ZZ4

Norton Rose Fulbright LLP
3 More London Riverside
London SE1 2AQ
United Kingdom

Registrar and Transfer Agent

Computershare Investor Services Inc.
510 Burrard Street
3rd Floor
Vancouver, BC, V6C 3B9
Tel: +1 604 661 0232
Fax: +1 888 453 0330
[email protected]

Computershare Investor Services Inc.
The Pavilions, Bridgwater Road
Bristol, BS99 6ZZ
United Kingdom
Tel: +44 (0) 870 702 0000
Fax: +44 (0) 870 703 6101

Aureus Mining Inc Timeline

November 14 2016

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