23 Nov 2011 07:00
AVOCET MINING PLC
("Avocet" or "the Company")
ANALYST SITE VISIT TO INATA
Avocet is hosting an analyst site visit to its flagship Inata gold mine in Burkina Faso, West Africa, on 23 and 24 November 2011. The presentation to be given on the site visit is available on the Company's website www.avocetmining.com under the Investors, Reports and Presentations section.
For further information please contact:
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Avocet Mining PLC | Buchanan | Ambrian Partners Limited | J.P. Morgan Cazenove | Arctic Securities | SEB Enskilda | |
Financial PR Consultants | NOMAD & Joint Broker | Lead Broker | Financial Adviser & Market Maker | Market Maker | ||
Ching-Yee Chan, IR | Bobby Morse James Strong | Samantha Harrison Jen Boorer | Michael Wentworth-Stanley Neil Passmore | Arne Wenger Petter Bakken | Fredrik Cappelen | |
+44 20 7766 7691 | +44 20 7466 5000 +44 78 7260 4783
| +44 20 7634 4700 | +44 20 7588 2828 | +47 2101 3100 | +47 2100 8500 | |
About Avocet Mining PLC
Avocet Mining PLC ("Avocet Mining" or "the Company") is a gold mining and exploration company listed on the AIM market of the London Stock Exchange (Ticker: AVM.L) and the Oslo Børs (Ticker: AVM.OL). Avocet announced in October 2011 its decision to move to the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange on or about 8 December 2011. The Company's principal activities are gold mining and exploration in Burkina Faso (as 90 per cent owner of the Inata gold mine and 100 per cent owner of eight exploration licences in the Bélahouro region surrounding Inata) and exploration in Guinea.
The Inata deposit presently comprises a Mineral Resource of 3.36 million ounces and a Mineral Reserve of 1.46 million ounces. Inata poured its first gold in December 2009. Other assets in West Africa include exploration permits in Burkina Faso (the most advanced prospect within Bélahouro being the Souma trend, some 20kms from Inata, with a Mineral Resource of 0.56 million ounces), Guinea (the most advanced being Koulékoun with a Mineral Resource of 1.47 million ounces) and Mali.
In December 2010 Avocet announced that it had signed a binding agreement for the conditional sale of its South East Asian assets to J&Partners L.P., a private company, for US$200 million. To date US$197 million of the total consideration has been received.
The substantial completion of this transaction has left Avocet as a West African gold producer and explorer, with a clear strategy for growth in that region.