Avesoro Resources Inc.
This website has been created to provide general information, solely for the reader’s general knowledge, about Avesoro Resources Inc., its subsidiaries, properties and activities, as well as the countries it operates in (hereafter “Avesoro Resources”).
Although Avesoro Resources believes that the information included in this website is accurate and current, such information is not intended to be a comprehensive review of all matters and developments concerning Avesoro Resources and Avesoro Resources does not warrant or make any representations or claims as to the authenticity, validity, accuracy, completeness or currency of the information provided in this site.
Moreover, Avesoro Resources, its directors and officers assume no responsibility for the information or representations contained in this website and shall not be liable or responsible for any claim or damage, direct or indirect, arising out of the interpretation, reliance upon or other use of the information provided herein.
Furthermore, the information in no way should be construed or interpreted as – or as a part of – an offering or solicitation of securities. No securities commission or other regulatory authority in Canada, in the UK or in any other country or jurisdiction has in any way approved or endorsed this information and no representation or warranty is made by Avesoro Resources to that effect.
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Certain information contained in this website, including in documents available on it, constitutes forward looking information or forward looking statements with the meaning of applicable securities laws. This information or statements may relate to future events, facts, or circumstances or the Company’s future financial or operating performance or other future events or circumstances. All information other than historical fact is forward looking in nature and involves known and unknown risks, uncertainties and other factors which may cause the actual results or performance to be materially different from any future results, performance, events or circumstances expressed or implied by such forward-looking statements or information. Such statements can be, but are not always, identified by the use of words such as “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe”, “target”, “predict” and “potential”. No assurance can be given that this information will ultimately prove to be accurate or correct and such forward looking information included in this website should not be unduly relied upon. Forward looking information and statements speak only as of the date such information or statements were originally made, or if undated, speak only as of the date of this website.
Forward looking statements or information in this website include, among other things, statements regarding plant optimisation and upgrade activities at the Company’s New Liberty Gold Mine in Liberia (the “New Liberty Gold Mine” or “Project”); targeted 2017 gold production of 90 Koz to 100 Koz, estimated cash costs of between US$750 to US$800 per ounce and all in sustaining costs of US$925 to US$975 per oz; the timing and delivery of a revised life of mine plan in H2 2017; ramping up of exploration activities on the regional licence portfolio in 2017; the potential of Cape Mount to provide satellite feed to the New Liberty Gold Mine; the potential for accretive merger and acquisition activity by the Company; the potential to extend the mine life at the New Liberty Gold Mine; the ability of the Company to operate the New Liberty Gold Mine; estimates relating to tonnage, grades, waste ratios, recovery rates and future gold production, life-of-mine estimates, estimates of capital and operating costs and start-up costs; anticipated sources of funding, plans for further exploration work, and proposed plans and exploration activities on the Company’s other target areas.
In making the forward looking information or statements contained in this website, assumptions have been made regarding, among other things: general business, economic and mining industry conditions; interest rates and foreign exchange rates; the continuing accuracy of mineral resource and reserve estimates; geological and metallurgical conditions (including with respect to the size, grade and recoverability of mineral resources and reserves) and cost estimates on which the mineral resource and reserve estimates are based; the supply and demand for commodities and precious and base metals and the level and volatility of the prevailing price of gold; market competition; the ability of the Company to raise sufficient funds from capital markets and/or debt to meet its future obligations and planned activities and that unforeseen events do not impact the ability of the Company to use existing funds to fund future plans and projects as currently contemplated; the stability and predictability of the political environments and legal and regulatory frameworks in Liberia and Cameroon including 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; that contractual counterparties perform as agreed; 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 or statements contained in this website as a result of risks and uncertainties (both foreseen and unforeseen), and should not be read as guarantees of future performance or results, and will not necessarily be accurate indicators of whether or not such results will be achieved. These risks and uncertainties include the risks normally incidental to exploration and development of mineral projects and the conduct of mining operations (including exploration failure, cost overruns or increases, and operational difficulties resulting from plant or equipment failure, among others); the inability of the Company to obtain required financing when needed and/or on acceptable terms or at all; risks related to operating in West Africa, including potentially more limited infrastructure and/or less developed legal and regulatory regimes; health risks associated with the mining workforce in West Africa; risks related to the Company’s title to its mineral properties; the risk of adverse changes in commodity prices; the risk that the Company’s exploration for and development of mineral deposits may not be successful; 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 and Cameroon, including adverse or arbitrary changes in applicable laws or regulations or in their enforcement; competitive conditions in the mineral exploration and mining industry; risks related to obtaining insurance or adequate levels of insurance for the Company’s operations; that mineral resource and reserve estimates are only estimates and actual metal produced may be less than estimated in a mineral resource or reserve estimate; the risk that the Company will be unable to delineate additional mineral resources; risks related to environmental regulations and cost of compliance, as well as costs associated with possible breaches of such regulations; uncertainties in the interpretation of results from drilling; risks related to the tax residency of the Company; the possibility that future exploration, development or mining results will not be consistent with expectations; the risk of delays in construction resulting from, among others, the failure to obtain materials in a timely manner or on a delayed schedule; inflation pressures which may increase the cost of production or of consumables beyond what is estimated in studies and forecasts; changes in exchange and interest rates; risks related to the activities of artisanal miners, whose activities could delay or hinder exploration or mining operations; the risk that third parties to contracts may not perform as contracted or may breach their agreements; the risk that plant, equipment or labour may not be available at a reasonable cost or at all, or cease to be available, or in the case of labour, may undertake strike or other labour actions; the inability to attract and retain key management and personnel; and the risk of political uncertainty, terrorism, civil strife, or war in the jurisdictions in which the Company operates, or in neighbouring jurisdictions which could impact on the Company’s exploration, development and operating activities.
This website also contains mineral “resource” and mineral “reserve” estimates. Information relating to mineral “resources” and “reserves” contained in this website is considered forward looking information in nature, as such estimates are estimates only, and that involve the implied assessment of the amount of minerals that may be economically extracted in a given area based on certain judgments and assumptions made by qualified persons, including the future economic viability of the deposit based on, among other things, future estimates of commodity prices. Such estimates are expressions of judgment and opinion based on the knowledge, mining experience, analysis of drilling results and industry practices of the qualified persons making the estimate. Valid estimates made at a given time may significantly change when new information becomes available, and may have to change as a result of numerous factors, including changes in the prevailing price of gold. By their nature, mineral resource and reserve estimates are imprecise and depend, to a certain extent, upon statistical inferences which may ultimately prove unreliable. If such mineral resource or reserve estimates are inaccurate or are reduced in the future (including through changes in grade or tonnage), this could have a material adverse impact on the Company and its operating and financial performance. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Due to the uncertainty that may be attached to inferred mineral resources, it cannot be assumed that all or any part of an inferred mineral resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration.
Although the forward-looking statements contained in this website are based upon what management believes are reasonable assumptions, the Company cannot provide assurance that actual results or performance will be consistent with these forward-looking statements. The forward looking information and statements included in this website are expressly qualified by this cautionary statement. The Company does not undertake any obligation to publicly update or revise any forward looking information except as required by applicable securities laws.
The Company’s Qualified Person is Mark J. Pryor, who holds a BSc (Hons) in Geology & Mineralogy from Aberdeen University, United Kingdom and is a Fellow of the Geological Society of London, a Fellow of the Society of Economic Geologists and a registered Professional Natural Scientist (Pr.Sci.Nat) of the South African Council for Natural Scientific Professions. Mark Pryor is an independent technical consultant with over 25 years of extensive global experience in exploration, mining and mine development and is a “Qualified Person” as defined in National Instrument 43 -101 “Standards of Disclosure for Mineral Projects” of the Canadian Securities Administrators and has reviewed and approved the mineral project disclosures made on this website. Additional “Qualified Persons” may have prepared, reviewed or approved specific documents included in this website. Reference is made to any specific document for details of such other “Qualified Persons”.
Further information relating to the mineral resources and mineral reserve estimates is detailed within, 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”