TIDMAUE
RNS Number : 0898C
Aureus Mining Inc.
23 June 2016
23 June 2016
Aureus Mining Inc.
TSX : AUE
AIM : AUE
RESULTS OF ANNUAL GENERAL MEETING OF SHAREHOLDERS
Aureus Mining Inc. ("Aureus" or the "Company"), the TSX and AIM
listed West African Gold Producer, is pleased to confirm that all
the resolutions put to shareholders at the Company's annual general
meeting (the "Meeting") held today were duly passed.
The six nominees listed in the Company's management information
circular dated May 20, 2016, were elected at the Meeting as
directors of Aureus. The vote was conducted by a show of hands. The
detailed results of the votes received by proxy are set out
below:
VOTES % VOTES VOTES % VOTES
Name FOR FOR WITHHELD WITHHELD
-------------------- ------------ -------- ----------- ----------
David G. Netherway 115,501,581 99.83% 197,493 0.17%
-------------------- ------------ -------- ----------- ----------
David J. Reading 94,534,181 81.71% 21,164,893 18.29%
-------------------- ------------ -------- ----------- ----------
Karin M. Ireton 115,510,775 99.84% 188,299 0.16%
-------------------- ------------ -------- ----------- ----------
Jean-Guy Martin 94,542,931 81.71% 21,156,143 18.29%
-------------------- ------------ -------- ----------- ----------
Loudon F. M.
Owen 91,760,677 79.31% 23,938,397 20.69%
-------------------- ------------ -------- ----------- ----------
Adrian J. Reynolds 94,542,931 81.71% 21,156,143 18.29%
-------------------- ------------ -------- ----------- ----------
Voting results on all matters voted on at the Meeting will be
filed on SEDAR at www.sedar.com.
For further information please see the Company's website at
www.aureus-mining.com or contact one of the following:
Contact Information
Aureus Mining Inc. Buchanan
David Reading / Paul Thomson Bobby Morse / Anna Michniewicz
Tel: +44(0) 20 7010 7690 Tel: +44(0) 20 7466 5000
Numis Securities Limited
(Nominated Adviser)
James Black / Paul Gillam
Tel: +44(0) 20 7260 1000
About Aureus Mining Inc.
The Company's assets include the New Liberty gold deposit in
Liberia (the "New Liberty Gold Project," "New Liberty" or the
"Project"), which has an estimated proven and probable mineral
reserve of 8.5 Mt with 924,000 ounces of gold grading 3.4 g/t and
an estimated measured and indicated mineral resource of 9,796 Kt
with 1,143,000 ounces of gold grading 3.63 g/t and an estimated
inferred mineral resource of 5,730 Kt with 593,000 ounces of gold
grading 3.2 g/t. A Definitive Feasibility Study ("DFS") has been
completed on the Project and construction is well progressed - the
first gold pour has taken place and work continues on commissioning
the plant for full scale production. The Project is expected to
have an 8 year mine life and annual production of 119,000 ounces
for the first 6 years of production. The Company has financed the
Project's equity and debt funding requirement. The foregoing
mineral reserve and mineral resource estimates and additional
information in connection therewith are set out in the Company's
technical report dated March 25, 2015 and entitled "New Liberty
Gold Project, Bea Mountain Mining Licence Southern Block, Liberia,
West Africa, Definitive Project Plan."
The New Liberty Gold Project is located within the Southern
Block of the 100% owned Bea Mountain mining licence. This licence
covers 478 km(2) and has a 25 year, renewable, mineral development
agreement. The Bea Mountain mining license also hosts additional
gold projects of Ndablama, Gondoja, Weaju and Leopard Rock which
are the focus of exploration programs during 2015. Ndablama has an
indicated mineral resource of 386,000 ounces of gold grading 1.6
g/t and inferred mineral resource of 515,000ounces of gold grading
1.7g/t and Weaju has an inferred mineral resource of 178,000 ounces
of gold grading 2.1 g/t. The Yambesei (759 km(2) ), Archaen West
(112.6 km(2) ), Mabong (36.6 km(2) ) and Mafa West (15.6 km(2) )
licences will also be subject to preliminary reconnaissance
geological work. The foregoing mineral resource estimates and
additional information in connection therewith are set out in the
Company's technical report dated December 1, 2014 and entitled
"Ndablama and Weaju Gold Projects, Bea Mountain Mining Licence,
Northern Block, Technical Report on Mineral Resources" ("Ndablama
and Weaju Technical Report 2014").
The Company also has a gold exploration permit in Cameroon.
Qualified Persons
The Company's Qualified Person is David Reading, who holds a MSc
in Economic Geology from University of Waterloo, Canada and is a
Fellow of the Institute of Materials, Minerals and Mining. David
Reading is the President and CEO of Aureus Mining Inc. and has
reviewed and approves this press release.
Forward Looking Statements
Certain information contained in this Announcement constitutes
forward looking information. This information may relate to future
events or the Company's future performance. All information other
than information of historical fact is forward looking information.
The use of any of the words "anticipate", "plan", "continue",
"estimate", "expect", "may", "will", "project", "should",
"believe", "predict" and "potential" and similar expressions are
intended to identify forward looking information. This information
involves known and unknown risks, uncertainties and other factors
that may cause actual results or events to differ materially from
those anticipated in such forward looking information. No assurance
can be given that this information will prove to be correct and
such forward looking information included in this Announcement
should not be unduly relied upon. This information speaks only as
of the date of this Announcement. Such forward looking information
includes, among other things, statements or information relating
to: the terms of Tranche 2 of the Offering and the completion and
the anticipated timing thereof; the Admission and commencement of
dealing in the Shares; and the continued listing of the Shares on
the TSX and AIM.
With respect to forward looking information contained in this
Announcement, assumptions have been made regarding, among other
things: the approval of the TSX in connection with the Offering,
the Admission of the Shares on AIM, general business, economic and
mining industry conditions; interest rates and foreign exchange
rates; the supply and demand for commodities and precious and base
metals and the level and volatility of the prices of gold; the
obtaining of waivers and amendments from the Company's creditors in
respect of its debt repayment obligations; the business of the
Company including the political environments and legal and
regulatory frameworks in Liberia with respect to, among other
things, the ability of the Company to obtain, maintain, renew
and/or extend required permits, licences, authorizations and/or
approvals from the appropriate regulatory authorities and the
ability of the Company to continue to obtain qualified staff and
equipment in a timely and cost-efficient manner to meet its
demand.
Actual results could differ materially from those anticipated in
the forward looking information contained in this news release as a
result of the risk factors, including: the risk that if Tranche 2
of the Offering is not completed, the waiver and standstill
agreement will terminate; the risk that the TSX will not clear the
Required PIFs; risks normally incidental to exploration and
development of mineral properties; the inability to obtain required
waivers and amendments from the Company's creditors in respect of
its debt repayment obligations and consequential risks of default
thereon; risks related to operating in West Africa; health risks
associated with the mining workforce in West Africa; risks related
to the Company's title to its mineral properties; adverse changes
in commodity prices; risks related to current global financial
conditions; the inability of the Company to obtain, maintain, renew
and/or extend required licences, permits, authorizations and/or
approvals from the appropriate regulatory authorities and other
risks relating to the legal and regulatory frameworks in Liberia,
including adverse changes in applicable laws; competitive
conditions in the mineral exploration and mining industry; risks
related to obtaining insurance or adequate levels of insurance for
the Company's operations; risks related to environmental
regulations; uncertainties in the interpretation of results from
drilling; risks related to the legal systems in Liberia; risks
related to the tax residency of the Company; changes in exchange
and interest rates; risks related to the activities of artisanal
miners; actions of third parties that the Company is reliant upon;
lack of availability at a reasonable cost or at all, of plants,
equipment or labour, including required equipment, explosives and
other necessary material not being delivered in the expected time
frame, or at all; the inability to attract and retain key
management and personnel; political risks; and future unforeseen
liabilities and other factors.
The forward looking information included in this Announcement is
expressly qualified by this cautionary statement and is made as of
the date of this Announcement. The Company does not undertake any
obligation to publicly update or revise any forward looking
information except as required by applicable securities laws.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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