Avesoro Resources Inc. (DI) (ASO)

Sector:

Mining

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 69.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 205.50
  • 52 Week Low: 31.50
  • Currency: UK Pounds
  • Shares Issued: 81.58m
  • Volume: 20,082
  • Market Cap: £56.29m
  • RiskGrade: 752
  • Beta: 0.00

Avesoro projects' mineralisation increases as drilling results 'compare favourably' to previous models

By Duncan Ferris

Date: Thursday 22 Mar 2018

LONDON (ShareCast) - (ShareCast News) - Avesoro Resources on Thursday revealed the identification of high grade intercepts at its New Liberty Gold Mine following the completion of drilling and partial completion of an assay assessment.
Assay results from the first 29 holes from the 55 hole infill drilling campaign at the project in Liberia "compare favourably" with the mineral resource model, with mineralisation now believed to be either wider, or containing higher grade mineralised zones than previously projected.

Serhan Umurhan, chief executive of Avesoro Resources, said: "The infill programme was designed to increase the confidence level of the continuity of the New Liberty orebody by targeting an area of the mineral resource model containing 275,000 ounces of inferred resources to higher categories of confidence, and in turn potentially increasing the Mineral Reserve at New Liberty."

Specifically, the drilling programme was intended to convert into the indicated mineral resource category, a substantial portion of the 3.5 million tonnes of Inferred material at a grade of 2.8g/t Au contained in the NI 43-101 Technical Report dated November 1, 2017, of which 3.0Mt at a grade of 2.85g/t Au is located below the current designed pit floor

"The results from the first stage of the infill drilling programme at New Liberty have been extremely encouraging and add further momentum to the exploration success we delivered during H2 2017 in Burkina Faso and our 2018 goal of increasing our mineral resource inventory and subsequently increasing the mine lives at our New Liberty, Youga and Balogo mines," said Umurhan.

The Gassore East target in Burkina Faso has seen the completion of drilling, with resource modelling, pit design and optimization studies also nearing completion.

Work at the Zerbogo and Songo permits in the country also continues and at the Ouaré site an indicated mineral resource has been achieved of 5.1Mt grading 1.39g/t Au (containing 228.3koz of gold) and Inferred Mineral Resource of 7.2Mt grading 1.8g/t Au (containing 406koz of gold).

As of 0919 GMT, Avesoro Resources' shares were up 1.11% at 227.50p.

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Note 2: RiskGrade figures are provided by RiskMetrics.

 

ASO Market Data

Currency UK Pounds
Share Price 69.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 205.50
52 Week Low 31.50
Volume 20,082
Shares Issued 81.58m
Market Cap £56.29m
Beta 0.00
RiskGrade 752

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
42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average
Price Trend
3.68% below the market average3.68% below the market average3.68% below the market average3.68% below the market average3.68% below the market average
74.8% below the sector average74.8% below the sector average74.8% below the sector average74.8% below the sector average74.8% below the sector average
Income Not Available
Growth
Market averageMarket averageMarket averageMarket averageMarket average
45.16% above the sector average45.16% above the sector average45.16% above the sector average45.16% above the sector average45.16% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 1
Sell 0
Strong Sell 1
Total 3
neutral
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ASO Dividends

No dividends found

Trades for 19-Aug-2019

Time Volume / Share Price
15:51 212 @ 68.04p
15:25 4,297 @ 69.80p
10:13 6,144 @ 68.00p
09:31 9,000 @ 68.10p
08:00 429 @ 69.85p

ASO Key Personnel

CEO Serhan Umurhan
CFO Geoff Eyre

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