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Aureus adjusts acquisition price after recent funding

Published: 09:12 21 Dec 2015 GMT

GoldPour
The area has been worked extensively by artisanal miners

Aureus Mining (LON:AUE TSE:AUE) has increased the amount of shares it will issue to acquire three licences in Liberia close to it New Liberty gold mine.

Vendor Sarama Resources will now receive around 6.65mln shares compared to the 2.6mln previously agreed.

Aureus announced the acquisition in November when it said the trio of licences would boost the land it owned in and around its Bea Mountain licence by 20% to 1,683 sq km (from 1,402 sq km).

Since then, Aureus has raised US$21.5mln through a US$10mln loan and share issue at 5p per share, which has diluted the price Sarama would have received.

The Sarama licences are in area that has already returned gold in soil anomalies and has been worked extensively by artisanal miners, said Aureus.

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