Avesoro Resources Inc, the TSX and AIM listed West African gold producer, announces that further to the it’s news announcement dated 16 October 2017, its wholly owned subsidiary Bea Mountain Mining Corporation (BMMC) has entered into further equipment finance facility agreements with Mapa İnşaatve Ticaret A.Ş. (Mapa), a related party of the company, to facilitate the purchase of heavy mining equipment for the New Liberty mine in Liberia and additional auxiliary equipment totaling approximately $17.1 million, as anticipated in the recently updated life of mine schedule announced on 11 October 2017.

The finance relates to the purchase of three Sandvik DP1500 surface drills, three Komatsu PC1250 excavators, eight Komatsu HD785 haul trucks, and additional auxiliary support equipment including a Komatsu GD655 grader, two Komatsu D275A dozers and two Bomag BW213 drum rollers. Delivery to New Liberty mine in Liberia is expected to occur throughout the remainder of 2017 and early in Q1 2018.

The Finance Agreements also include the purchase of eight MTU Onsite Energy 2,290kVA diesel generators, purchased to replace the existing rented power generation facility on site at New Liberty, allowing the generation of power to be brought in-house as a part of management’s commitment to reduce on-going operating costs. The loan principal of these agreements includes a mark-up of 2.5% over the cost incurred by Mapa in procuring the equipment.