PRECIOUS METALS

Avesoro adds to Liberian fleet

Gold producer Avesoro Resources has secured funding for the purchase of several machines to add to its fleet for Bea Mountain Mining and open-pit New Liberty mine in West Africa

Staff reporter
Avesoro adds to Liberian fleet

Company officials said it has now sealed further financing agreements and will spend US$17.1 million on three Sandvik DP1500 surface drills, three Komatsu PC1250 excavators, eight Komatsu HD785 haul trucks, and additional auxiliary support equipment, including a Komatsu GD655 grader, two Komatsu D275A dozers and two Bomag BW213 drum rollers. 

In addition, it will be purchasing eight MTU Onsite Energy 2,290kVA diesel generators to replace units currently being rented for the 100%-owned New Liberty operation.

The deal was inked with Mapa, formally known as Mapa İnşaat ve Ticaret. Delivery to the Liberia operation is expected through the remainder of the year and into early March quarter 2018. 

New Liberty, which submitted its NI 43-101 report in late November just after commencing a 14,000m, 46-hole diamond core drilling campaign with four rigs, has an estimated proven and probable reserve base of 7.4 million tonnes with 717,000oz of gold at 3.03 grading.

Measured and indicated resources there total 9.6Mt with 985,000oz grading at 3.2g per tonne. Inferred minerals are estimated at 6.4Mt with 620,000oz at an average 3.0g/t grading. 

With New Liberty considered a keystone in its portfolio, Avesoro has said the operation is Liberia’s first and largest commercial gold mine.

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