BLUE SKY BREAKOUT

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MNG Gold deal allows Aureus Mining "to move forward in much stronger direction"


15:16 15 Jun 2016

David Reading, chief executive at Aureus Mining (LON:AUE), which built the New Liberty gold mine in Liberia, talks to Proactive Investors about the announcement that Turkish conglomerate MNG Gold will take a 55% stake in the company through a US$30mln share subscription.

"The gold industry has been in the doldrums recently and it was a tough time for Aureus, unfortunately, with a thin balance sheet. This option allows Aureus to have the bank debt underwritten and covered by MNG as well as putting fresh money into the company to start up production again soon and move forward in a much stronger direction."

"Sometimes fresh ideas can help move forward the project," says David Reading, who will be stepping down as chief executive.

http://www.proactiveinvestors.co.uk/companies/stocktube/5150/mng-gold-deal-allows-aureus-mining-to-move-forward-in-much-stronger-direction--5150.html