Aurous Resources reports 59% boost in operating profit, appoints new board members

Financial Highlights:

  • Generated unaudited preliminary revenue of ~US$23 million as of 31 August 2024, an increase of 5% year-on-year.
  • Operating profit of ~US$2.1 million for the first half of the fiscal year, an increase of 59% year on year.
  • 10,888 oz of gold sold in H1 2025 with 93,513 tonnes milled and recovered grade of 3.64 g/t.
  • Gold prices are currently at $2,690/oz, up 30% for the calendar year and 24% from the signing date of Aurous Resources’ business combination with Rigel, and up 42% from the assumed long-term gold price in the S-K 1300 technical report for the Blyvoor Gold Mine.

JOHANNESBURG, Dec. 17, 2024 (GLOBE NEWSWIRE) -- South African mining company Blyvoor Gold Resources (Pty) Ltd (“Aurous Resources”) has reported a 59% increase in operating profit, driven by rising gold prices and the improved operational performance of the Blyvoor gold mine.

In its most recent preliminary financial and operational results for the period ended 31 August 2024, the company generated unaudited preliminary revenue of $23-million, a 5% increase year-on-year.

Richard Floyd, CEO at Aurous, says: “Aurous is pleased to announce meaningful progress on all fronts over the past quarter. We have enjoyed the continued support of the various regulators, we have closed out on our interim audit, we have continued to track positively on our operations, we have rounded out the independent side of our board with incredible candidates and most importantly we have attracted strategic partners to further the funding drive towards capitalizing our next phase of growth. What a proud way to end a strong year.”

Aurous Resources, which operates the Blyvoor mine and is developing the Gauta tailings retreatment project on Johannesburg’s West Rand, will further bolster its board of directors with the appointment of three nominees as independent non-executive directors upon closing the transaction. They are:

  • Jan Hendrik (“Hennie”) van Greuning, an experienced executive, including 15 years at the World Bank as well as acting as Registrar of Banks in South Africa before that. Hennie served on the board of the FirstRand Banking Group where he chaired the Audit, Risk and Ethics committees for over 9 years. He holds a PhD in banking regulations and is a published and accomplished executive in the financial sector;
  • Christine Coignard, an executive with extensive banking, investing, management and board experience, built during a career that started at the Royal Bank of Canada, Société Générale, and Citi. Ms Coignard has extensive experience in the mining industry, having worked for Norilsk Nickel and other operating companies, investors, public authorities and advisors related to the mining industry; and
  • Stephen Hayes, who was previously the President and CEO of the Corporate Council on Africa (CCA), and has extensive experience in US-Africa relations, advisory and fundraising. The CCA, during his tenure, was the most important organisation between African nations and the United States’ public and private sector. Stephen is the only American to have ever been awarded both the Ron Brown Award for International Leadership, the highest award given by the US Department of Commerce, and The President’s “E” (for Excellence) Award, the highest award given by the White House for outstanding leadership in international export development.

In addition, Aurous announced it has secured commercial terms for a $20-million investment by Siyanda Resources via an equity PIPE financing.

Imraan Osman, Corporate Finance Director at Siyanda Resources, says: “Siyanda is excited by the investment opportunity into Aurous Resources, providing Siyanda with an attractive entry into the gold commodity sector. We see many opportunities to work with the Aurous executive team to unlock potential opportunities and create value for shareholders.”

The agreement remains subject to regulatory and shareholder approval and the execution of full documentation. If approved, the deal would add to a previously unreported investment of $7.5-million to bring the combined committed and commercially agreed upon PIPE financing to $27.5-million.

The company expects its business combination process with Rigel Resource Acquisition, which commenced in March this year, to close in January 2025.

For more information about Aurous Resources, please see aurousresources.com


Aurous Resources reports 59% boost in operating profit, appoints new board members

Contact: Phone: +27 18 013 0041 Email:info@aurousresources.com


THỦ THUẬT HAY

Cách làm thẻ tín dụng, thẻ Visa Vietcombank

Đăng ký mở thẻ Visa Vietcombank giúp khách hàng giao dịch trong nước, quốc tế thuận tiện hơn, dễ dàng chi tiêu trong hạn mức tín dụng và nhận được nhiều ưu đãi mà không phải cầm tiền mặt theo người.

Hướng dẫn chuyển toàn bộ dữ liệu từ iPhone qua điện thoại OPPO

Hầu hết các sản phẩm của OPPO trong vài năm trở lại đây đều được cài đặt ứng dụng chuyển dữ liệu với tên gọi 'Nhân bản điện thoại' nằm trong thư mục 'Công cụ' . Sau khi truy cập vào ứng dụng này, các bạn hãy nhấn vào

Hướng dẫn đổi Apple ID từ Yahoo Mail, Gmail thành iCloud

Apple vừa cho phép người dùng đổi Apple ID từ bên thứ 3 như Yahoo Mail, Gmail, Outlook Mail...sang định dạng truyền thống iCloud. Đây là tin vui...

Cách tùy chỉnh đăng nhập bằng ảnh đại diện Facebook

Trên Facebook có tin năng đăng nhập tài khoản Facebook thông qua hình ảnh đại diện. Nếu bạn sử dụng tính năng này thì có thể tùy chỉnh một số những thiết lập để phù hợp với mình hơn.

Lướt web thoải mái hơn với thẻ nạp Datacode của MobiFone

Khách hàng của MobiFone hoàn toàn có thể sử dụng thẻ nạp dung lượng data (hay còn gọi là Datacode) để thoải mái lướt web với chi phí hợp lý mà không cần đăng ký cố định gói cước 3G, 4G.

ĐÁNH GIÁ NHANH

Trên tay realme Q3s – Siêu phẩm mới trong phân khúc 6 triệu đồng

realme Q3s có giá bán khá mềm nhưng lại sở hữu nhiều tính năng ấn tượng: màn hình LTPO 144Hz, pin 5.000 mAh, chip Snapdragon 778G siêu mạnh mẽ,… Bài viết trên tay realme Q3s dưới đây sẽ giúp bạn hiểu rõ hơn về siêu

Đánh giá tai nghe QCY QY31: Thiết kế thể thao, mạnh mẽ, chất lượng ổn

Cũng giống như những chiếc tai nghe thể thao khác, QY31 cũng có phần quay đeo để móc vào vành tai người dùng. Điều này sẽ giúp các bạn trong khi vận động mạnh như chơi thể thao sẽ không bị rơi tai nghe ra bên ngoài.