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BRIEF-Avesoro Resources Gets Non-Binding Expression Of Interest From Avesoro Jersey

Published 2019-08-20, 02:25 a/m
© Reuters.  BRIEF-Avesoro Resources Gets Non-Binding Expression Of Interest From Avesoro Jersey
ASOA
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Aug 20 (Reuters) - Avesoro Resources Inc ASO.TO :

* GETS NON-BINDING EXPRESSION OF INTEREST FROM ITS CONTROLLING SHAREHOLDER, AVESORO JERSEY LTD

* PROPOSAL TO ACQUIRE ALL OF ISSUED AND OUTSTANDING SHARES OF CO NOT ALREADY OWNED BY AJL

* OFFER FOR PRICE OF £1 PER SHARE

* GOLD PRODUCTION AND COST GUIDANCE FOR FULL YEAR IS CURRENTLY UNDER REVIEW

* GOLD PRODUCTION FOR JULY AND AUGUST IS EXPECTED TO BE C.16,000 OZ

* FY GUIDANCE WILL BE MATERIALLY REDUCED FROM 180,000 - 200,000 KOZ RANGE ANNOUNCED ON JUNE 10, 2019

* FUNDING GAP FOR BALANCE OF FINANCIAL YEAR HAS WIDENED BY NOT LESS THAN US$10 MILLION

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