Avesoro borrows $5m from AJL as cash flow needs rise

TSX- and Aim-listed gold miner Avesoro Resources has entered into a loan agreement for up to $5-million with majority shareholder Avesoro Jersey Limited (AJL) to help meet the company’s cash flow needs. As a result of operational issues at the Youga and New Liberty mines, in Burkina Faso and Liberia, respectively, the company’s financing requirement has increased by at least $10-million for the year.