{"id":1094788,"date":"2019-01-17T11:14:28","date_gmt":"2019-01-17T11:14:28","guid":{"rendered":"http:\/\/www.mining.com\/?p=963923"},"modified":"2019-01-17T11:14:28","modified_gmt":"2019-01-17T11:14:28","slug":"avesoro-resources-shares-jump-after-exceeding-2018-gold-production-target","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1094788","title":{"rendered":"Avesoro Resources shares jump after exceeding 2018 gold production target"},"content":{"rendered":"

West Africa-focused gold miner Avesoro Resources (TSX, AIM:ASO) said Thursday<\/a> it had exceeded its 2018 full year production guidance, thanks mainly to a 44% output increase at its New Liberty mine in Liberia and despite a 4% production decline at its Youga asset in Burkina Faso.<\/p>\n

Avesoro\u2019s annual production jumped by 15% to 220,458 ounces of gold compared with 2017, with New Liberty alone churning out 109,107 ounces.<\/p>\n

The miner’s 2018 production figures were boosted mainly by a 44% output increase at its New Liberty mine in Liberia, which offset a 4% output decline at Youga, in Burkina Faso.<\/q><\/p>\n

Chief executive Serhan Umurhan said 2018 allowed the company to establish itself as a multi-asset producer, adding that the focus this year would be on \u201cstrong cash flow and further debt reduction, following the substantial reinvestment of cash generated by operations [last year].\u201d<\/p>\n

The miner, which has a track record of not only successfully building low cost mining operations, but also turning around non-performing assets, has experienced rapid growth to date.<\/p>\n

Avesoro\u2019s plan is to become a larger 500,000-ounces gold producer in the next two to three years, which it intends to achieve through a combination of organic and inorganic growth \u2014 mergers or acquisitions.<\/p>\n

The company, which also owns the Batouri asset in Cameroon and Balogo in Burkina Faso, is currently progressing a prefeasibility study (PFS) for an underground extension at New Liberty. The report is expected to include the first open-pit reserves from the Ndablama\u00a0satellite deposit and is set to be concluded towards the end of the first quarter.<\/p>\n

Shares in Avesoro Resources climbed as much as 5.5% in London on the news to 172p and were trading at 166.75p by 10:00am local time.<\/p>\n

The post Avesoro Resources shares jump after exceeding 2018 gold production target<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Avesoro’s annual production jumped by 15% to 220,458 ounces of gold compared with 2017, with its New Liberty mine in Liberia alone churning out 109,107 ounces.<\/p>\n

The post Avesoro Resources shares jump after exceeding 2018 gold production target<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1090,404,369],"tags":[9,48],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1094788"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1094788"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1094788\/revisions"}],"predecessor-version":[{"id":1094891,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1094788\/revisions\/1094891"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1094788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1094788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1094788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}