Corporate profile

African Gold Source, a gold mining and exploration company, conducts its activities in Cameroon and in Central African Republic, one of the world’s premier new gold-copper regions. With 10 years of experience, AGS is currently Cameroon’s largest gold producer.

Headquartered in Bertoua, Cameroon, African Gold Source is listed on the Johannesburg Stock Exchange, our primary listing, and on the New York Stock Exchange, on which our shares are quoted as Cameroon Depositary Receipts. At 30 June 2019, our market capitalisation was CFA17.1 billion.

What we do


Exploration and acquisitions

Exploring for and evaluating economically viable gold-bearing orebodies and/or value-accretive acquisitions 2


Mining and processing

Establishing, developing and operating mines and related processing infrastructure. Ore mined is milled and processed by our gold plants to produce gold doré bars 3


Sales and financial management

Generating revenue through the sale of gold produced and optimising efficiencies to maximise financial returns 4


Stewardship and mine closure

Restoring mining impacted land for alternative economic use post-mining, having in place approved mine closure commitments and empowering communities and employees

Our Values

  • Safety: No matter the circumstances, safety is our main priority
  • Accountable: We are all accountable for delivering on our commitments
  • Achievement: Achievement is core to our success
  • Connected: We are all connected as one team
  • Honesty: We uphold honesty in all our business dealings and communicate openly with stakeholders

Our strategy

To produce safe, profitable ounces and increase our margins

Our four strategic pillars are:
  • Operational excellence :To prioritise safety, strict cost control and management of grades mined, together with disciplined mining, to improve productivity and efficiencies
  • Cash certainty: To achieve operational plans, supported by current hedging strategy, contributes to cash flow certainty
  • Effective capital allocation: To evaluate and prioritise organic growth opportunities and safe, value-accretive acquisitions to ensure positive stakeholder returns and increase margins
  • Responsible stewardship: To be mindful of and to manage and limit the impacts of our activities on our employees, host communities and the environment. This encompasses our environmental, social and governance (ESG) performance