AP Gold and Precious Metals. is an unhedged gold producer and explorer with mining operations and exploration tenements in the Republic of Cameroon. We are committed to operating at world-class standards and are focused on the safety of our employees, respecting the environment, and contributing to the communities in which we operate.
AP Gold and Precious Metals began the exploitation of gold in September 2005 after completing the acquisition of Maroua Gold Miners LLC in August 2005. Maroua Gold Miners LLC was a Cameroonian publicly listed company previously but is now a private company. It is the 100% owner of Donga Gold Ltd, a Cameroon company that has been producing gold from the Donga operation since 2001.
AP Gold and Precious Metals. has two primary objectives:
To increase gold reserves and resources in the Maroua gold producing belt and significantly extend the life of the operation.
To optimize the administrative, mining, and processing operations to reduce costs and maximize profits.
To expand the proven reserves and resources AP Gold and Precious Metals. will focus on drilling extensions of known and in some cases previously mined deposits and through exploration drilling at sites with existing compelling drill data or that are otherwise highly prospective on the basis of other existing exploration data including soil analysis and aero-magnetic surveys. It is the view of management that this approach is far likelier to be successful than Tonga exploration and with the existing production infrastructure in place, the cost and risk of putting new discoveries into production is minimal.
The optimization of existing operations is centered on capital expenditures aimed at increasing mill throughput and higher recoveries and the implementation of management practices that will result in lower mining and processing costs.
The company is currently focused exclusively on its existing portfolio of production and exploration opportunities but continuously reviews other precious metals opportunities. It is the policy of the company when considering deploying capital to compare the risk-adjusted expected return to shareholders from any capital allocation to returning cash to shareholders via share buy-backs or dividends.