Avesoro Resources (OTC:ARSMF) has received a non-binding acquisition proposal from its controlling shareholder Avesoro Jersey for shares it does not already own.

AJL plans to acquire Avesoro’s shares at £1 ($1.21) a share.

Currently, AJL holds nearly 72.9% of Avesoro’s shares.

The company is also assessing the long-term viability of mining operations at the Youga mine, in light of damage to heavy mining equipment and the low grades currently being achieved.

Gold production for July and August is expected to be about 16,000 oz, where the monthly target should be at least 15,000 ounces; therefore, the company has materially reduced its guidance but has not provided figures.





READ SOURCE

READ  Sensex ends 551 points down, hits 3-month low; Nifty at 10,851

WHAT YOUR THOUGHTS

Please enter your comment!
Please enter your name here