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ASX: AGR - Aguia Resources

Aguia Resources: A unicorn gold play that could be spitting out cash in 6 months


Aguia Resources Executive Chairman Warwick Grigor on 3AW, 2GB & 6PR Bulls N' Bears Report


Listen to ASX-listed Aguia Resources Executive Chairman Warwick Grigor talk to Matt Birney on the Bulls N’ Bears Report about Aguia’s exquisite pick up of a gold project that has already been trial mined and could cost as little as $2.5m in CAPEX to start churning out ounces.



TO LISTEN TO THE AGUIA RESOURCES AUDIO INTERVIEW - CLICK BELOW



Aguia Resources has multiple projects in Colombia and Brazil. The Colombian projects exhibit high grades of gold, silver and copper and in Brazil, Aguia has extensive copper and copper/gold tenements along with 108million tonnes of organic phosphate in the midst of a rich agricultural region. More recently however the company enacted a plan to buy out a private company in Columbia that owns a high grade mothballed gold mine that it says can be jolted back into production with minimal capital investment.


RADIO INTERVIEW – TRANSCRIPT


Matt Birney - Welcome to Bulls N' Bears brought to you today by gold developer Aguia Resources.


Matt Birney - ASX code: AGR


Matt Birney - I'm Matt Birney and I'm joined now by the Chairman of Aguia Resources, Warwick Grigor.


Matt Birney - Hi Warwick.


Warwick Grigor - Hi Matt.


Matt Birney - okay so Aguia Resources has multiple projects in Colombia and Brazil. The Colombian projects exhibit high grades of gold silver and copper and in Brazil Aguia has extensive copper and copper gold tenements along with 108 million tons of organic phosphate in the midst of a rich agricultural region. More recently however the company enacted a plan to buy out a private company in Colombia that owns a high-grade mothball gold mine that it says can be jolted back into production with minimal capital investment. Okay Warwick Aguia has just enacted a plan to get into early cash flows tell me about this mine in Colombia what's its name and what's its history?


Warwick Grigor - it's a Santa Barbara gold mine, it's fairly recent discovery it's had a pilot plant operating on it it's had some great results achieving 20 grams per ton cost of 300 to 400 bucks an ounce and uh they've already mined 500 tons, so we really understand the continuity of the orebody the grades with the metallurgy all that information you need when you start a gold mine.


Matt Birney - okay what's the plan to get it into production, how long will it take, what will it cost, how many ounces are you looking to produce in the short and medium term?


Warwick Grigor - we estimate by Christmas we'll be up and producing cash flow

generating about 10,000 ounces per annum. The cash flow coming from that is truly outstanding in terms of payback uh it will place us in a very strong position to then commence drilling to get JORC resources and over a period of a few years we'll be able to expand that production to about 50,000 ounces by Capital development reinvesting the money and obviously a bit of drilling will help out too.


Matt Birney - yeah what does a deal look like for you to take over the private company that owns that mine?


Warwick Grigor - well incredibly cheap, we did it when the gold price was only 1700 bucks an ounce it's a lot higher now it's about 7 million dollars to buy the company by issuing shares only about 450 million shares you know very cheap for what we get.

 

Matt Birney - and what does the opportunity look like to expand the orebody beyond the obvious?


Warwick Grigor -well we think we've got a system with millions of ounces, it obviously has to be drilled, it takes time to prove that but within that area there's precedence for very large orebodies there and we think we've got one of those and uh we just have to do the work and come up with a JORC resources and that'll happen over the next year or two.


Matt Birney - funded out of cash flow no doubt?


Warwick Grigor - absolutely we don't want to dilute shareholders unnecessarily we'll fund it out of cash flow.


Matt Birney - Warwick Grigor from Aguia Resources.


Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.


Matt Birney - I'm Matt Birney and this is Bulls N' Bears.


Outro - For more public company interviews go to the money page on the 6PR, 2GB, 3AW and 4BC websites and click the public companies tab.


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