7 Dec 2010 07:00
ANALYST SITE VISIT TO INATA, BURKINA FASO
Avocet Mining PLC ("Avocet" or the "Company") is currently hosting a site visit to its flagship Inata Gold Mine in Burkina Faso for equity analysts from the UK, Canada and Norway. Presentations will be given by the management team on Tuesday 7th December 2010, copies of which are available on the Avocet website (www.avocet.co.uk) and through the following URL:
http://www.avocet.co.uk/reportspres.html
For further information please contact:
Avocet Mining PLC | Buchanan Communications | Ambrian Partners Limited | J.P. Morgan Cazenove | Arctic Securities |
Financial PR Consultants | NOMAD and Joint Broker | Lead Broker | Financial Adviser | |
Brett Richards, CEO Mike Norris, FD Hans-Arne L’orange, EVP Business Development & Investor Relations | Bobby Morse Katharine Sutton | Richard Brown | Michael Wentworth- Stanley Niklas Kloepfer | Arne Wenger |
+44 20 7766 7676 | +44 20 7466 5000 +44 7802 875227 | +44 20 7634 4700 | +44 20 7588 2828 | +47 21013100 |
www.avocet.co.uk | www.buchanan.uk.com | www.ambrian.com | www.jpmorgancazenove.com | www.arcticsec.no |
Notes to Editors
Avocet Mining PLC ("Avocet" or "the Company") is a gold mining company listed on the AIM market of the London Stock Exchange (Ticker: AVM.L) and the Oslo Børs (Ticker: AVM.OL). The Company's principal activities are gold mining and exploration in Burkina Faso (as 90 per cent owner of the Inata gold mine), Malaysia (as 100 per cent owner of the Penjom gold mine, the country's largest gold producer) and Indonesia (as 80 per cent owner of the North Lanut gold mine and Bakan project in North Sulawesi).
The Company announced in May 2010 that it had initiated exploration within the Inata Mining Licence area and in the surrounding Bélahouro district with the objective of significantly increasing Inata's Mineral Resource and Mineral Reserve base as well as investigating the highly prospective Souma Trend, located 20 km from the Inata mill. The Company has a number of other advanced exploration projects in West Africa and South East Asia.
Background to operations
The Inata deposit presently comprises a Mineral Resource of 1.84 million ounces and a Mineral Reserve of 1.08 million ounces. Inata poured its first gold in December 2009 and has now reached a production rate in excess of 12,000 ounces per month. Other assets in West Africa include exploration permits in Burkina Faso (the most advanced being the Souma trend at Bélahouro with a Mineral Resource of 561,100 ounces), Mali and Guinea (the most advanced being the Tri-K gold exploration project in with a Mineral Resource of 666,500 ounces).
Penjom is Malaysia's largest gold mine and was developed by Avocet in an area of historic alluvial mining. The mine is located in Pahang State, approximately 120 km north of the country's capital, Kuala Lumpur.
North Lanut in North Sulawesi, Indonesia, was developed by Avocet from the exploration stage and has produced over 300,000 ounces since it was commissioned in 2004. North Lanut is located within a Contract of Work, which includes exploration and mining rights over approximately 50,000 hectares in an area highly prospective for gold. Avocet holds an 80 per cent interest and an Indonesian company, PT Lebong Tandai, owns the remaining 20 per cent.