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Production in sight for Aureus Mining

By Robert Tyerman | Wednesday 9 July 2014


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Swimming against the tide could pay off for West Africa-focused Aureus Mining (AUE), as it prepares to take its one million oz.-plus New Liberty gold project in Liberia’s Bea Mountain area into production early next year. It will also test likely prospects elsewhere in the country, such as nearby Ndablama, which chief executive officer David Reading hints could be in the same league. The AIM-quoted company claims New Liberty will be virtually the only new mine to open in West Africa at that time and should be able to produce 100,000 oz. of gold in its first year, rising to an annual 120,000oz. for at least six years, with foreshadowed all-in cash costs of $850/oz, against a current price of $1,315.80/oz.


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