Avesoro Resources

Website: www.avesoro.com
Primary ticker: AIM:ASO, TSX:ASO
Stage of development: Production, Development
Primary minerals: Gold
Project to promote: New Liberty Gold Mine & Ndablama Deposit and Youga Gold Mine

Live financials

Avesoro Resources is a West Africa focused gold producer and developer that operates three gold mines and is listed on the TSX and the AIM market. Avesoro is the seventh largest UK listed gold producer.

Management Profile

Serhan Umurhan – Chief Executive Officer

Over 15 years experience in the mining industry overseeing the construction of four CIL / Heap leach gold mines in Turkey and West Africa
Formerly held senior roles including General Manager – Technical at Koza Gold Corporation and Project and Infrastructure Manager at Normandy Mining and Newmont Mining


Geoff Eyre – Chief Financial Officer

Chartered Accountant & Electrical Engineer with >10 years experience in the mining industry, mostly gained in West Africa
Formerly with Ernst & Young, was Group Financial Controller for Ferrexpo Plc during its IPO and CEO of Amlib Holdings PLC
Nick Smith (Head of Investor Relations and Corporate Communications)


What is your rationale for attending 121 Mining Investment?

Attending the 121 to attract new investors and to increase market awareness within the institutional investment community. With low operating and development costs, Avesoro has plans to become a premier mid-tier African gold producer and we are keen to communicate the investment case story to the analyst and institutional investor community


What are your key goals for the next 3, 6 and 12 months?

6 Months:

To acquire a further asset in Africa

12 Months:

To continue to increase yearly gold production towards the Company’s 500Koz p.a. target


What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

A key challenge is identifying suitable assets to acquire in order to expand our resource portfolio. It is key that in order to deliver value to shareholders the Company does not over pay for these acquisitions.


In a sentence, what do you think makes your company such a compelling investment?

Avesoro focuses on acquiring distressed or low valuation assets and then applying our ability to deliver a lower cost structure than achieved by our peers as a mechanism for creating value, whilst our confidence in our ability to turn around marginal operations enables the company to apply an M&A strategy that few of our West African peers have confidence in advancing.