Aureus Mining granted debt extension as mine plans progress

auGold miner Aureus Mining Inc. (LON:AUE TSX:AUE) has been granted a deferral of debt repayments until 29 April while it completes a mine optimisation plan for New Liberty in Liberia.

SRK Consulting is working on a number of revised mine plan scenarios for the gold operation as part of the discussions underway with Nedbank, Rand Merchant Bank and the Export Credit Insurance Corporation of South Africa over a new repayment schedule.

Work so far has included an updated orebody model to pinpoint the most economic pit-shell, pit phasing and ramp designs.

Commercial production was declared at the mine in Liberia on 1 March with gold recovery levels in excess of 90%.

Design capacity at the mine is 119,000 ounces per year. READ MORE

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About Cholo Brooks 13357 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.