Avesoro Resources is a West Africa focused gold producer and development company that operates two gold mines across West Africa and is listed on the Toronto Stock Exchange (“TSX”) and the AIM market operated by the London Stock Exchange (“AIM”). The Company’s assets include the New Liberty Gold Mine in Liberia and the Youga Gold Mine in Burkina Faso.
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
Nick is responsible for all investor relations and communications aspects for Avesoro Resources. With 10 years’ experience in the mining industry, prior to Avesoro, Nick previously worked for a multi-disciplinary engineering consultancy where he was responsible for the delivery of a portfolio of multidisciplinary projects across the extractives industry. In addition to his experience, Nick holds a Bachelor of Science Degree in Physical Geography and a Master of Science Degree in Geographical Information Systems.
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 recent news would you like to highlight to investors attending?
The Company’s majority shareholder, Avesoro Jersey Limited, has announced its intention to commence a binding takeover bid to acquire all of the outstanding common shares that it does not already own at a price of £1 cash per share.
The Company understands that AJL’s proposal is supported by holders of an additional 12.9% of the common shares (c.47.5% of the remaining shares not already owned by AJL)
What are your key goals for the next 3, 6 and 12 months?
Reserve and Resource upgrade for the Youga Gold Mine in Burkina Faso
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.
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. The company is undervalued for a 220koz per year producer.