{"id":1126689,"date":"2019-07-15T13:35:26","date_gmt":"2019-07-15T18:35:26","guid":{"rendered":"https:\/\/www.mining.com\/?p=996675"},"modified":"2019-07-15T13:35:26","modified_gmt":"2019-07-15T18:35:26","slug":"avesoro-leaves-mining-at-its-burkina-faso-gold-mine-in-someone-elses-hands","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1126689","title":{"rendered":"Avesoro leaves mining at its Burkina Faso gold mine in someone else\u2019s hands"},"content":{"rendered":"<p>West Africa-focused Avesoro Resources&nbsp;(TSX, LON: ASO)<br \/>\ncontinues to transition from mining operator to contractor after <a href=\"https:\/\/avesoro.com\/2019\/07\/15\/funding-position-update-and-signing-of-mining-contract-for-the-youga-gold-mine\/\">concluding<br \/>\nan agreement for Youga open pit gold mine<\/a> in Burkina Faso, which could ease<br \/>\nproject funding pressure on the company.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Under the deal with Orkun Group Sarl, secured by Avesoro\u2019s subsidaries, Burkina Mining Company and Netiana Mining Company, the mine is expected to deliver increased production at reduced costs in the second half of the year.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>Contract will enable Avesoro to significantly reduce its future mining costs at Youga gold mine.<\/p>\n<\/blockquote>\n<\/figure>\n<p>The announcement comes at a time of higher gold prices,<br \/>\nwhich are forecast to <a href=\"https:\/\/www.mining.com\/world-gold-council-expects-metal-demand-prices-to-stay-strong\/\">stay<br \/>\nstrong throughout early 2020<\/a>.<\/p>\n<p>The Canadian junior recently <a href=\"https:\/\/www.mining.com\/avesoro-resumes-operations-at-burkina-fasos-gold-mine\/6251\/\">had<br \/>\nto cut annual output guidance<\/a> for both the Youga and New Liberty mines by<br \/>\n30,000 ounces because of operational challenges experienced earlier in the<br \/>\nyear.<\/p>\n<p>Orkun is expected to move 800,000-900,000 bank cubic metres<br \/>\nof material per month at $3.75-4.26\/bcm to deliver at least 120,000 tonnes of<br \/>\nore a month to the Youga ROM pad. <\/p>\n<p>The service provider will progressively buy Avesoro&#8217;s mining<br \/>\nfleet, and invest in expansion (this year) to improve production rates. It is<br \/>\nalso taking over fleet maintenance straight away.<\/p>\n<p>&#8220;This contract will enable Avesoro to significantly<br \/>\nreduce its future mining costs at Youga,&#8221; Avesoro chief executive officer,<br \/>\nSerhan Umurhan, <a href=\"https:\/\/avesoro.com\/2019\/07\/15\/funding-position-update-and-signing-of-mining-contract-for-the-youga-gold-mine\/\">said<br \/>\nin the statement<\/a>.<\/p>\n<p>&#8220;Outsourcing the mining activity will also enable us to<br \/>\nreduce our direct employee headcount and overall business complexity thereby<br \/>\nreducing general and administrative costs.&#8221;<\/p>\n<p>Avesoro intends to apply the same model at its New Liberty mine,<br \/>\nin Liberia.<\/p>\n<p>The company acquired Youga, about 180 km southeast of the<br \/>\ncapital Ouagadougou, adjacent to Burkina Faso\u2019s border with Ghana, in 2016.<\/p>\n<p>The licence contains seven open-pit deposits and a 1.1 million tonne per<br \/>\nyear carbon-in-leach processing facility.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Contract awarded to  Orkun Group Sarl,could ease project funding pressure on the junior.<\/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 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