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Licence extension boon for Aureus - share price rally to accelerate?

By Robert Tyerman | Tuesday 12 May 2015

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

David Reading, chief executive officer of West Africa-focused gold play Aureus Mining (AUE), describes as ‘very significant’ the award by the Liberian authorities of a 21-km. extension to the company’s Bea Mountain mining licence to include the promising Leopard Rock target. With its flagship New Liberty gold project set to start producing by the end of May or the beginning of June, the mining licence extension, which brings in Leopard Rock along a 13-km. gold-bearing corridor, comes hard on the heels of a pronouncement from the World Health Organisation that Liberia is now free from the deadly ebola virus.

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