Amigo Resources PLC
Amigo Resources PLC (LSE: AMGO) is an early-stage African gold and rare-earth company operating in Tanzania, with stated interest in Mauritania. It is the former Amigo Holdings PLC, a UK subprime/guarantor consumer-credit lender: that business ceased lending in 2023, its financial-services subsidiaries entered solvent liquidation under a Scheme of Arrangement completed in September 2025, and the company formally renamed to Amigo Resources PLC on 2 March 2026 following shareholder approval, retaining the same ticker, SEDOL and ISIN. Its functional currency changed to USD. The Mining Commission of the United Republic of Tanzania granted the company two Processing Centre Licences on 14 May 2026 (Kabete's PCL/00496/2026 having been announced on 29 April 2026), covering Mojimoto and Kabete. The strategy is vertically integrated processing rather than conventional mine development: working alongside local artisanal miners, reprocessing historical tailings, and treating material from its own exploration programmes. Two pilot processing facilities, each designed for approximately 200,000 tonnes per annum and each targeting an initial ~20kg of gold per month, completed commissioning in July 2026, supported by dedicated borehole water supply and connected grid power; approximately 6,000 tonnes of historical tailings were prepared for processing with around 1 million further tonnes identified. On 3 August 2026 the company reported its first gold recovery -- approximately 5kg from the Mojimoto and Kabete operations between the 24 July commissioning start and 31 July -- described by executive chair Craig Ransley as the group's first meaningful commercial recovery, and committed to monthly production and sales disclosure. Exploration continues in parallel, with a peak gold-in-soil value of 1.03 ppm reported from a multi-style gold system at Kabete. This is pilot-scale tailings-reprocessing production, not a developed mine: there is no published compliant resource estimate and no feasibility study, so ouncesFound is left null. Interim results to 31 March 2026 showed a US$2.2M loss and approximately US$1.1M of cash before subsequent fundraising. [Task #554 stage correction, 2026-08-23]: independently re-verified -- no gold SALES (dollar/GBP figure) have been disclosed anywhere as of this pass, despite the Company's 3 Aug 2026 commitment to monthly production/sales disclosure; only the ~5kg recovery figure above is confirmed. Stage corrected PERMITTING -> CONSTRUCTION (not PRODUCTION) on that basis -- permitting and pilot-plant commissioning are genuinely complete, but real sales evidence (this repo's Task #516 standard for PRODUCTION) does not yet exist. businessModel corrected OPERATOR -> MERCHANT_PROCESSOR to match the Company's own described model (processing historical tailings/artisanal-sourced material at its own permitted plant, without an owned mineral deposit) -- see technicalReportNote for full reasoning.
Notable vs. Peers
- Jurisdiction risk score of 5/10 is meaningfully riskier than the peer average of 7.8/10.
Lifecycle Milestones
Construction Milestones
2 of 5 reached- May 2026 · Mining Commission of the United Republic of Tanzania granted two Processing Centre Licences on 14 May 2026 -- PCL/00496/2026 (Kabete) and PCL/0352/2026 (Mojimoto). Independently re-confirmed via direct WebFetch of AMGO's own Interim Financial Results (filed 18 Jun 2026, six months to 31 Mar 2026): "Processing licences granted on 14 May 2026 (after period end)". Task #554. · Source
- Reached — date not disclosed · No separately-dated formal FID/construction-decision announcement found for this fast, low-capex pilot-plant buildout. The Company's own 24 Jul 2026 RNS ties the start of construction/execution directly to the PCL grant: "moving...from planning into execution following the successful grant of Processing Centre Licences" -- civil works, borehole water, grid power, and commissioning were all completed by that same release. achievedDate left null rather than invented -- only a week/event-level anchor (the PCL grant, see PERMIT_GRANTED) is evidenced, not a specific decision day. Task #554. · Source
- Not yet reached
- Not yet reached
- Not yet reached
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Your Rankings
Management Team
Chief Executive Officer of Amigo Resources PLC, effective July 17, 2026, succeeding Nicholas Beal (who remains an Executive Director and Company Secretary). Finance and commercial executive with 20+ years of experience, including 13+ years in resources/commodities; spent eight and a half years at TerraCom Limited (ASX: TER) as Chief Commercial Officer and Chief Financial Officer, leading the acquisition of the Blair Athol coal mine and the takeover of Universal Coal plc. Chartered Accountant with a Bachelor of Commerce (Accounting) from the University of Wollongong.
Executive Chair of Amigo Resources PLC, a London-listed mining company focused on gold and rare earth projects in Africa with operations in Tanzania and Mauritania.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
This company recently transformed from a dormant cash shell into a listed gold and rare-earths explorer in Africa, backed by broad shareholder approval and several capital raises, but no named producer or specialist resource fund was found holding a position.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Task #317 Lane B (Aug 2026): checked, genuinely pre-resource-estimate stage. Amigo is defining a JORC-compliant mineral resource estimate for Mojimoto, subject to ongoing exploration outcomes -- the company states an update is 'planned for the second half of 2026,' not yet published as of this pass. First gold was recovered at the Mojimoto/Kabete processing operations between 24-31 Jul 2026 (announced as the company's 'first meaningful commercial recovery'), but this is pilot-scale/artisanal-style processing of historical workings validated on the ground, explicitly framed by the company (Executive Chair Craig Ransley) as a 'proof of concept' for its vertically-integrated model -- not production off any defined JORC resource or reserve. No PEA, PFS, or FS of any kind has been published for Mojimoto, Kabete, or the company's other Tanzanian licences (Negero-Kilimamzinga, Mazoka). All 4 fields therefore genuinely undisclosed, not merely unresearched. [Task #554 stage correction, 2026-08-23] RESOLVED 2026-08-23 (Task #554): raised stage PERMITTING -> CONSTRUCTION (NOT PRODUCTION), stageEnteredAt = 2026-05-14, businessModel OPERATOR -> MERCHANT_PROCESSOR (required companion fix, see below). Independently re-verified via fresh direct WebFetch of investegate.co.uk's "Operational Update: From Vision to Execution" RNS (24 Jul 2026): pilot-plant commissioning at Mojimoto/Kabete confirmed complete ("now that commissioning has been completed"), civil works/water/power infrastructure complete -- but NO gold sales figures or revenue in any currency anywhere in that release. Cross-checked investegate.co.uk/company/AMGO directly for the exact next release: "03 Aug 2026 -- Production Update: Achievement of First 5kg Gold" (title itself says production/recovery, not sales) -- multiple independent secondary sources (proactiveinvestors, marketscreener, share-talk, via search corroboration) consistently describe ~5kg RECOVERED at Mojimoto/Kabete 24-31 Jul 2026, framed by Executive Chair Craig Ransley as "first meaningful commercial recovery" / "proof of concept" -- not a commercial-production declaration, and no dollar/GBP sales figure found anywhere. Checked investegate.co.uk/company/AMGO for anything disclosed since 3 Aug up to today (23 Aug 2026): only a 20 Aug major-holdings notice and a 21 Aug Memorandum of Understanding -- neither a production nor sales update, so the Company's own "committed to monthly production and sales disclosure going forward" (as of 3 Aug) has not yet actually landed three weeks later. Applying the ratified Task #516 standard (genuine disclosed SALES revenue settles stage=PRODUCTION, not recovery/output alone, per the Task #551/ABI precedent) -- PRODUCTION is not yet warranted. PERMITTING -> CONSTRUCTION instead, reflecting that permitting and commissioning are genuinely, evidence-backed done. stageEnteredAt = 2026-05-14, the date the Mining Commission of the United Republic of Tanzania granted both Processing Centre Licences (PCL/00496/2026 Kabete, PCL/0352/2026 Mojimoto) -- independently re-confirmed via AMGO's own Interim Financial Results (filed 18 Jun 2026): "Processing licences granted on 14 May 2026" -- and the same date the Company's own 24 Jul 2026 RNS ties directly to the start of its execution/construction phase ("moving...from planning into execution following the successful grant of Processing Centre Licences"). REQUIRED COMPANION FIX: businessModel OPERATOR -> MERCHANT_PROCESSOR. Moving to CONSTRUCTION with businessModel=OPERATOR unchanged would trip the enforced "stage-construction-implies-deposit-data" audit rule (requires ouncesFound/dcfNpvUsd/mineLifeYears -- all three null here, genuinely, no resource estimate or PEA/PFS/FS of any kind exists for Mojimoto/Kabete). This is not a workaround but the correct classification: the MERCHANT_PROCESSOR model (schema.prisma, Task #541, written for Dynacor's Veta Dorada plant -- buys/processes third-party ore at its own permitted, built, producing plant, for a margin, without owning the ore body) matches AMGO's own description almost exactly ("vertically integrated processing... working alongside local artisanal miners, reprocessing historical tailings"). hasNoOwnedDeposit(MERCHANT_PROCESSOR) exempts exactly the deposit-data gate while AMGO stays fully subject to the four operator-timeline milestone-presence gates (MERCHANT_PROCESSOR is deliberately NOT in NON_OPERATOR_MODELS). Blast radius checked -- businessModel has no other special-cased consumer besides these lifecycle-gates.ts exemptions and the ROYALTY_STREAMING-only panel on the miner detail page, irrelevant here. PERMIT_GRANTED milestone written: 2026-05-14 (same PCL grant, independently re-confirmed above). CONSTRUCTION_DECISION milestone written with achievedDate left null -- no separately-dated FID/construction-decision announcement was found for this fast, low-capex pilot buildout; the Company's own words tie construction/execution directly to the PCL grant event rather than a separate dated board decision, matching the ABI/Task #551 CONSTRUCTION_START precedent of leaving achievedDate null when only a week/event-level anchor, not a specific day, is evidenced. NOT written this pass: CONSTRUCTION_START/FIRST_PRODUCTION/COMMERCIAL_PRODUCTION -- not required until stage=PRODUCTION, which real sales evidence does not yet support; revisit once the Company's committed monthly production/sales disclosure actually disclosed a real $ sales figure. Sources: https://www.investegate.co.uk/announcement/rns/amigo-holdings--amgo/operational-update-from-vision-to-execution/9685262 ; https://www.investegate.co.uk/announcement/rns/amigo-holdings--amgo/interim-financial-results-/9625727. Full reasoning: scripts/correct-amgo-stage-task554.ts.