Canadian Mining Journal

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GOLD: Avesoro suspends operations at Youga mine after security breach



BURKINA FASO – Avesoro Resources has temporarily suspended operations at its Youga gold mine in Burkina Faso and moved all staff to the capital Ouagadougou as a precautionary measure, after a group of armed artisanal miners overran the camp and tried to steal ore from the mine’s stockpile on Aug. 8.

There were no injuries and government security forces will remain on site to protect the company’s assets.

The Youga mine is in Boulgou province, 180 km southeast of Burkina Faso’s capital of Ouagadougou.

Youga has a measured and indicated resource of 16.64 million tonnes grading 1.73 g/t gold for 924,200 contained oz. of gold. The mine produced 110,751 oz. gold in 2018.

Avesoro acquired the gold mine, along with its Balogo gold mine, in December 2017.

Avesoro Resources closed at $ 1.10 per share in a 52-week trading range of 42¢ to $4.24 per share. The company has 81.6 million common shares outstanding for an $89.7-million market capitalization.

This story first appeared on www.NorthernMiner.com.