“If you look back at Aurelian’s first resource, it was 13 million ounces at Fruta del Norte. It was scaled back, but now the near-term opportunity is to do infill drilling and convert some of our indicated resource to reserve. Our probable reserve is only 67% of our indicated resource right now.”
“Although we received the final permit in December, we decided to wait until after the winter to commence production so as to hit the ground running. We have now started production when the gold price is more than US$500 higher from when we acquired and started building the mine two years ago. This has given us a great base to grow from.”
PARTNER AND LEADER OF THE ENERGY AND RESOURCES INDUSTRY, DELOITTE NIGERIA
"I believe the government is doing its best to put incentives in place. However, the delay in pinning down some of the key fiscal terms for oil industry operators in Nigeria, which is largely due to political factors, is hurting the system."