Avesoro Resources Inc. (DI) (ASO)

Sector:

Mining

 98.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 172.00p
  • 52 Week Low: 31.50p
  • Currency: UK Pounds
  • Shares Issued: 81.58m
  • Volume: 20,369
  • Market Cap: £80.35m
  • RiskGrade: 250

Avesoro begins 14,000 metre diamond drilling campaign at New Liberty

By Josh White

Date: Friday 17 Nov 2017

LONDON (ShareCast) - (ShareCast News) - West Africa-focussed gold producer Avesoro Resources announced on Friday that four diamond drill rigs have been mobilised to its wholly-owned New Liberty Gold Mine, and have commenced a 14,000 metre diamond core drilling campaign.
The AIM-traded firm said the campaign was targeting an area of the New Liberty resource model containing an inferred mineral resource of some 3.5Mt, with a mean grade of 2.8g/t Au and containing 315koz of gold.

It said that inferred material was located within and below the current pit design, and was within the open pit reporting limits, but due to its resource classification was currently treated as waste in the mineral resource announced by the company on 11 October.

The objective of the 46-hole infill drilling programme was to increase confidence in the continuity of the ore body and upgrade the classification of a proportion of the inferred material to an indicated mineral resource, and thereby increase the tonnage of mineralisation that could be converted to a mineral reserve and included in the economic model as required by NI 43-101.

It anticipated that the drilling programme would be completed during the first quarter of 2018, at which time the company would start work on an updated mineral resource and reserve statement.

"I am pleased to announce the start of this infill drilling programme at New Liberty," said Avesoro CEO Serhan Umurhan.

"We expect drilling operations to be completed during Q1 2018 and I look forward to updating shareholders on the progress of this campaign which we believe has the potential to increase the mine life and significantly add to the value of New Liberty."

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ASO Market Data

Currency UK Pounds
Share Price 98.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 172.00p
52 Week Low 31.50p
Volume 20,369
Shares Issued 81.58m
Market Cap £80.35m
RiskGrade 250

ASO Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
62.71% below the sector average62.71% below the sector average62.71% below the sector average62.71% below the sector average62.71% below the sector average
Price Trend
4.34% below the market average4.34% below the market average4.34% below the market average4.34% below the market average4.34% below the market average
16.13% above the sector average16.13% above the sector average16.13% above the sector average16.13% above the sector average16.13% above the sector average
Income Not Available
Growth
Market averageMarket averageMarket averageMarket averageMarket average
43.33% above the sector average43.33% above the sector average43.33% above the sector average43.33% above the sector average43.33% above the sector average

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 2
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ASO Dividends

No dividends found

Trades for 10-Dec-2019

Time Volume / Share Price
15:47 69 @ 97.75p
11:42 300 @ 97.60p
08:29 20,000 @ 98.00p

ASO Key Personnel

CEO Serhan Umurhan
CFO Geoff Eyre

Top of Page