Denver Gold Group > Member Company Profile > Aureus Mining Inc
Address
20 Southampton, 2nd Floor
London WC2E 7QH
United Kingdom
Value Drivers
- Maiden reserve of 873,000oz at 3.1g/t. Cointains at least 1.57m oz of gold resources grading at 3.6 g/t.
- Simple metallurgy with 93% gold recovery.
- Construction to commence in H2 2012. First full year of production planned for 2014, + 120,000oz pa for first four years at average grade of 3.73g/t.
- The project is easily accesible by road and only 100km from the capital, Monrovia.
- Mining lease of 457km², valid for 25 years, with exciting exploration upside.
Management
| Chairman: | David Netherway |
| CEO/President/MD: | David Reading |
| CFO: | Paul Thomson |
| COO: | Martin White |
| Other Key Staff: | Jeremy Cave - IR |
IR Contact
Jeremy Cave
+44 (0) 20 7257 2935
jeremy.cave@aureus-mining.com
www.aureus-mining.com
Cautionary Information
© Copyright 2012, Denver Gold Group & Aureus Mining Inc.
Although every care has been taken to ensure that this data is accurate, Denver Gold Group cannot accept responsibility for sourcing variances, mistakes, errors or omissions or for any action taken in reliance thereon. Use of this data is governed by Denver Gold Group's Terms of Use. Certain information contained in this profile, including any information as to strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "believe", "expect", "will", "anticipate", "contemplate", "target", "plan", "continue", "budget", "may", "intend", "estimate" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of the Company to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to: the impact of global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; changes in the worldwide price of commodities and energy inputs; fluctuations in currency markets; changes in global and national interest rates; risks arising from holding derivative instruments; the ability of the Company to complete or successfully integrate an announced acquisition proposal; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; employee relations; availability and costs associated with mining inputs and the construction of capital projects; the speculative nature of exploration and development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves; changes in costs and estimates associated with the Company’s projects; adverse changes in the Company's credit rating, level of indebtedness and liquidity, contests over title to properties, particularly title to undeveloped properties; the risks involved in the exploration, development and mining business, including, without limitation, environmental hazards. Certain of these factors are discussed in greater detail in the Company's most recent regulatory filings with various national securities and other authorities. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Aureus Mining Inc
Toronto Stock Exchange : AUE
Last Updated: April 5, 2012
| Status: | Developer |
| Primary Mineral: | Gold |
| Primary Country of Operation: | Liberia |
| Other Countries of Operation: | Cameroon |
Aureus Mining Inc. is a gold exploration and development company listed on TSX and AIM (AUE). It is focussed in highly prospective and under-explored areas of Liberia and Cameroon. The Company’s principal strategic objectives are to be a gold producer in 2013, expand the resource base through high-impact exploration and develop towards being a mid-tier gold producer.
New Liberty in Liberia is Aureus Mining’s most advanced project and is expected to begin production in Q4 2013. The NI 43-101 compliant resource is currently 1.57moz at a grade of 3.6g/t, with 102koz at 4.74g/t Measured, 984koz at 3.53g/t Indicated and 483koz at 3.5og/t Inferred. The Company released its maiden reserve estimate of 873koz at 3.1g/t in February 2012, with cash costs expected of $632/oz and low initial capex of $113m. Benefitting from the high grade and simple metallurgy, the project economics look very robust. The full definitive feasibility study is due at the end of March 2012 and construction is expected commence in Q4 2012.
New Liberty sits within the large, 457km2, 25-year, renewable Bea Mountain Mining licence, which along with the adjacent 89km2Archaen exploration licence, is highly prospective and under-explored. Aureus Mining has extensive multi-phased exploration programmes currently running, from target generative work to focussed drilling programmes on well-defined targets. This ensures that the pipeline of projects behind New Liberty remains healthy.
Aureus Mining also has two gold-bearing licences in Cameroon, which cover a total of 787.5km2. The Batouri and Ntem licences host multiple gold in soil anomalies and extensive artisanal mining activity. Target generative work is in progress at both licences.
Other Markets Traded On
AIM: AUE
Top Shareholders
- JPMorgan
- Macquarie
- Mackenzie
- RBC
Capital Structure
| Common Shares Outstanding: | 117,951,476 |
| Float (%): | 99.5 |
| Fully Diluted Shares: | 117,951,476 |
Stock as of April 24, 2012
| Local: CAD | USD | |
|---|---|---|
| Stock Price: | 1.00 | 1.01 |
| 52-Week Range: | 0.8600 - 1.7000 | 0.87 - 1.72 |
| Market Cap: | 118 MM | 119 MM |
| Fully Diluted Market Cap: | 118 MM | 119 MM |
| 1-Year Return: | -39.02% |