Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Aureus production jumps as gold recoveries improve

since the start of the year the company has produced 11,001 ounces of gold compared with 17,172 in the six months prior to this.
Aureus production jumps as gold recoveries improve
The ounces are pouring out at faster rate.

Gold recoveries at Aureus Mining’s (LON:AUE, TSX:AUE) New Liberty operation in Liberia have improved so much that output in the last month a half is around two thirds of the level achieved in the entire second half of 2015.

So, since the start of the year the company has produced 11,001 ounces of gold compared with 17,172 in the six months prior to this.

A total of 5,478 ounces were unearthed in January and 5,523 in the February – and remember we are a little over halfway through the month.

Aureus said its tweaks had resulted in “operational performance improvements” from the gravity and carbon in leach circuits that are central to processing the ore.

Gold recovery rates are now up at a steady state 85% and hit 87%, which has been sustained over the last week.

"The improvements in gold recovery and production at New Liberty are encouraging and are a direct result of ongoing optimisation procedures as we progress towards achieving commercial production by the end of March,” said David Reading, chief executive. 

“We fully expect to see further recovery improvements in the months ahead, and the company now looks forward to continuing to optimise the New Liberty process plant and delivering on the exciting potential of the New Liberty gold mine."

Separately, Aureus said it will have finalised its updated mine plan by the end of the month. The new blueprint will be central to discussions with lenders when agreeing a new debt repayment schedule.

Aureus deferred its first payment, due at the end of the last month.

Ian_55ae0ddd437b7.jpg
Why Invest In Avesoro Resources? Read More Here

Register here to be notified of future ASO Company articles
View full ASO profile

Avesoro Resources Timeline

Newswire
November 14 2016

Related Articles

Nickel---periodic-table.jpg
April 06 2016
Horizonte Minerals has a commanding position in a major Brazilian nickel district
GoldPour_570f84a790098.jpg
June 17 2016
The success of Orosur Mining Inc's efforts to rationalise operations and costs against a weaker gold price were laid bare today as it posted third quarter results.
picture of gold mine
September 08 2016
Bradbury agrees that at the current gold price of $1,350 per ounce, Shanta is a highly profitable cash generative business.

© 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.