May 17 - The CEO of what's set to become Liberia's first commercial gold producer - Aureus Mining - examines the prospects and challenges of operating
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Roy does is holding a -- -- event with Liberia's president and sandy Johnson in Washington late today. Joining me now is David reading chief executive of -- mining which is set to become a fast and that can national gold -- -- the country thank you so much for joining us. Festival morning -- pat talks with them so Aaron Johnson Sonny you've met with three times. More ups issue tonight and only say you know what what that's how -- would be foreign investment community. And taken to. I think -- very strong person. She's determined person. Very proud of her country. She's managed to get eighteen billion dollars of direct foreign investment placed. To the country about a third of it spent. She denies that in this time of economic recession the government needs to reach out to investors and make it as attractive as possible for them to coming. But I think she's she's pretty good start. Of course like there has been ripped apart by civil rule it's about corruption in problems on its they've -- with weapons. What is the biggest challenge. -- operating in the country and and what does send Sonny Jones and sunny have to tackle fest. Infrastructure really. Electricity rates. Writes. She's got lots of water. She needs convert them into electricity. Chesko three point potential ports one of which is policy refurbished. That means to continue to be developed and then more rights need to be put him -- natural resource is safe to particular be -- politics who would do that. Apple's -- says some. In investing in Iberia. You know wet thirty starting in this festive and -- to go online tell us more about this project and how much. You'd expect to produced from this line. Here's the line it will we're lucky in that we -- -- and under so much is north of the -- too much too which is -- -- site. Relatively speaking with a good place it's only about now and twenty minutes from the pool which we will produce 120000. Ounces a year. Roughly. -- overnight you expand. We. Are in the -- work state -- -- he raised the equity portion of the 150 million Wii means. And I just come back from saw it this morning and Central Bank its -- side. Who signed mandates with the school for the debt reduction. And so we very much for speaking hate to to do and -- -- -- this commercial -- Does that recent sharp drop in on the gold price worry you at all. We are lucky in that the breakeven cost of politics is sort of a 105011100. -- -- -- Repayment of Catholic school corporate cost -- things like that gives us a bit of marching compared to some of the crew chiefs who took about 15100. We have gripe to swell which. You know I have it's great history point six grams which is this is -- about the West African athletes site. Of course we would like to go promise to be. That Tippett. With a high grade politics with a with a dog to Monty will be -- -- you know -- just pushing it. -- -- -- a thousand a 1050 is where gold has to be for your new liberty mine too to be profitable -- -- to be uncomfortable yeah. Right affidavit -- my thanks to David reading chief executive. Of a -- -- coming up later today axles were helpful tool so Liberia's president Alan -- sunny. The best female head of state in Africa that that fourteenth that the eastern nineteenth SE. BST I imagine all this is what is.
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