- Avesoro Resources' wholly-owned subsidiary Bea Mountain Mining Corporation has entered into further equipment finance facility agreements with Mapa İnşaat ve Ticaret, a related party of the company, to facilitate the purchase of heavy mining equipment and additional auxiliary equipment totalling approximately US$17.1m.

The finance agreements relate 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 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.

The equipment finance loans under each of the finance agreements are unsecured, with interest charged at 6.5% per annum on the US dollar denominated loan amount of approximately US$7.3 million and 5.5% per annum on the euro denominated loan amount of approximately €8.3 million (equivalent to approximately US$9.8 million).

The loans are repayable in cash in eight equal semi-annual instalments, the first of which will fall due six months after utilisation of the loan.

At 9:14am: [LON:ASO] Avesoro Resources Inc. Com Shs Npv Di share price was 0p at 1.95p

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