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. Interim results to 31 March 2026 showed a US$2.2M loss and approximately US$1.1M of cash before subsequent fundraising.
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 reachedMilestones 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.
Not in place: mill. Not yet determined: tailings facility, road access, grid power.
Jurisdiction (40%)5/10
Tanzania -- an established East African gold-mining jurisdiction (host to major operators including Barrick's North Mara and Bulyanhulu), but with a still-evolving mining code, a resource-nationalism history (the 2017 concentrate export ban and ownership disputes with Acacia/Barrick), and infrastructure constraints outside the main gold belts. A moderate score rather than Tier-1.
Infrastructure (40%)3.6/10
No confirmed mill at Mojimoto-Kabete Gold Processing; road access, grid power, and tailings facility not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
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 in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:7/10
Stage: Construction
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 57% here - JurisdictionSub-score:5/10
Tanzania: jurisdiction score 5/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 26% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
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
Amigo Resources, the former UK consumer lender Amigo Holdings, renamed on 2 March 2026, is now a gold processing company in Tanzania that treats historical tailings and ore from local artisanal miners rather than developing its own mine. Tanzania's Mining Commission granted it two Processing Centre Licences on 14 May 2026, for Mojimoto in the Mara Region and Kabete in the Tanga Region, and two pilot plants, each designed for about 200,000 tonnes a year and targeting about 20kg of gold a month, completed commissioning in July 2026. On 3 August 2026 the company reported its first gold recovery, about 5kg produced between 24 July and 31 July, and committed to monthly production and sales disclosure. It has no published resource estimate or economic study; a JORC resource estimate for Mojimoto is planned for the second half of 2026.