Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors
EPIC: AUE
Market: AIM
52-week High/Low: 22.25p / 2.38p
Sector: General Mining - Gold
Market Cap: 16.25M
Phone: +44 (0)20 7257 2930
Address: 20 Southampton Street, London WC2E 7QH.
Website: aureus-mining.com
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

aureus-mining.com

Interactive graph

col 3
col 4
col 5
col 6

Big picture - Why invest in Aureus Mining Inc


Aureus Mining Inc Snapshot

New Liberty in Liberia is Aureus Mining’s most advanced project and is expected to begin production in Q4 2013. The NI 43-101 compliant resource is currently 1.57moz at a grade of 3.6g/t, with 102koz at 4.74g/t Measured, 984koz at 3.53g/t Indicated and 483koz at 3.5og/t Inferred. The Company released its maiden reserve estimate of 873koz at 3.1g/t in February 2012, with cash costs expected of $632/oz and low initial capex of $113m, the project economics look very robust. The full definitive feasibility study is due at the end of March 2012 and construction is expected commence in Q4 2012.

 

New Liberty sits within the large, 457km2, 25-year, renewable Bea Mountain Mining licence, which along with the adjacent 89km2Archaen exploration licence, is highly prospective and under-explored. Aureus Mining has extensive multi-phased exploration programmes currently running, from target generative work to focussed drilling programmes on well-defined targets. This ensures that the pipeline of projects behind New Liberty remains healthy.

 

Aureus Mining also has two gold-bearing licences in Cameroon, which cover a total of 787.5km2. The Batouri and Ntem licences host multiple gold in soil anomalies and extensive artisanal mining activity. Target generative work is in progress at both licences.

Regional Geology

Liberia is situated within the Archean Shield portion of the Man Craton, which has remained stable since about 1.7 Ga.

 

man-craton

 

To the east of the Liberia is a Birimian-age (2.1 Ga) proto-continent that accreted onto Africa during the Eburnean Orogeny (Milési, J-P, et al 1992). Pan African units extend along the southern edge of the country, representing the formation of Gondwana (500 Ma).

The west of Liberia is underlain by Archean granites and granitic gneisses, as well as greenstone belts (metamorphosed mafic and ultramafic rocks, bounded by granites and gneisses suites representing the remains of volcanic belts).

The Archean rocks have been subjected to deformation and shearing, with the principal structures acting as conduits for mineralizing fluids which features rich gold deposits.

 

For further information plese click here 

 

Cameroon

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

 

Batouri


Batouri

Overview

Ownership: 100% (African Aura Cameroon SARL)
Licence area: 296.45 km2
Location: Eastern Cameroon
Target: 3 prospects defined (Kambele, Dimako and Amndobi)
Geology: Granite hosted quartz veins and stockworks
Artisanal workings define 16km long mineralised corridor. At Dimako they are up to 20m wide by 20m deep
Drilling/Sampling Highlights

95 diamond drill holes complete across two prospects. Visible gold identified in 25 holes. Intercepts include:
65.9 g/t over 2.67m
43.3 g/t over 1.50m
4.99 g/t over 9m
5.52 g/t over 5m
Systematic soil and stream sampling over the majority of licence completed. A soil sampling programme 7km to the southwest of Kambele, on the Mongonam – Dimako trend confirmed a 3.5km long shear zone, with >250ppb Au in soils, co-incident with hard rock artisanal workings
IP resistivity/radiometric survey completed
To date, 16 trenches and 291 pits completed
Geology/background

 

For further details please click here

 

Liberia


Liberia

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

 

 

David-Reading

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

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

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

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

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.

 

Shares not held in public hands (Board of Directors & Management) 0.16%
Institutions 80.30%
Private/Retail Investors 19.70%
Total shares in issue 100%
Top Shareholders
Richard Griffiths and controlled undertakings 15.22%
International Finance Corporation 14.61%
BlackRock Investment Management 7.08%
Ruffer 5.05%
RBC Asset Mgt 4.62%
GAM Holdings Ltd. 3.29%
Blakeney Mgt 3.19%
Sprott Asset Mgt 2.32%
Issued number of common shares of no par value: 367,868,262.

There are no common shares held in treasury.

Last Updated on the 02nd October 2015.

Restrictions on transfer of the common shares:

With the exception of of restrictions imposed by the US securities laws applicable to certain of the Company’s common shares/further details of which are contained in the Admission Document, there are no restrictions on the transfer of the Company’s common shares.

Corporate Offices

 

Registered Office

Suite 2300

Toronto-Dominion Centre TD Waterhouse Tower

79 Wellington Street West

Toronto

Ontario 

M5K 1H1

Canada

 

UK Representative Office

355-359 Strand

London

WC2R 0HS

T:  +44 (0) 20 7010 7690

F: +44 (0) 20 7010 7699

 

Exploration Offices

All Liberian subsidiaries

Mano House

18th Street, Sinkor

Monrovia

Liberia

Tel:  +231 (6)551 739

All Cameroon subsidiaries

BP 14364

Yaounde

Cameroon

 

Corporate Offices

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

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

Exploration Offices

Bea Mountain Mining Corp.
Allison Street, behind Lone Star Cell Headquarters
Congo Town
Monrovia
Liberia
Tel: +231 888 938 597

All Cameroon subsidiaries
BP 14364
Yaounde
Cameroon

Joint Broker & Nominated Advisor

Numis Securities
10 Paternoster Square
London
EC4M 7LT

Joint Broker

GMP Securities Europe LLP
Stratton House, 5 Stratton Street
London
W1J 8LA

Auditors

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

Corporate Secretary

LV Conseil Institutionnels
1405 Henri-Bourassa West, Suite 203
Montreal
Quebec
H3M 3B2

Financial Public Relations

Buchanan
Bobby Morse/Gordon Poole
107 Cheapside
London
EC2V 6DN
Tel +44 (0) 207 466 5000
Fax +44 (0) 207 466 5001

Legal Counsel

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

UK
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
Canada
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

Columns Including AUE

VIEW ALL

Market Reports Including AUE

VIEW ALL
Video RSS

Videos

VIEW ALL VIDEOS

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.