27 Apr 2010 07:00
APPLICATION TO LIST ON THE OSLO STOCK EXCHANGE
Avocet Mining PLC ("Avocet" or the "Company") announces that it has submitted an application for listing on the Oslo Stock Exchange ("OSE").
A decision on the success of the Company's application is expected on 28 May 2010, at the next meeting of the board of the OSE. Further details on when the Company's shares will commence trading on the OSE will be announced after this date.
As the application to list has been submitted, Avocet is now subject to certain of the disclosure requirements of the OSE. Full compliance with relevant OSE regulations will be required once the Company's shares become listed on the OSE. Full details of OSE listing requirements are available on www.oslobors.no
A further announcement on the implications of the listing process for Avocet shareholders will be made ahead of the approval by the OSE board.
| For further information please contact: | |||||
| Avocet Mining PLC | Buchanan Communications | Ambrian Partners Limited | J.P. Morgan Cazenove | Arctic Securities | First Securities |
| Financial PR Consultants | NOMAD and Joint Broker | Lead Broker | Financial Adviser | Financial Adviser | |
| Jonathan Henry, CEO Mike Norris, FD Hans-Arne L'orange, EVP Business Development & Investor Relations | Bobby Morse Katharine Sutton | Richard Brown Richard Greenfield | Michael Wentworth-Stanley Anish Patel | Arne Wenger Kim Galtung Døsvig | Stein Hansen Eirik Lilledahl |
| +44 20 7766 7676 | +44 20 7466 5000 +44 7802 875227 | +44 20 7634 4700 | +44 20 7588 2828 | +47 21013100 | +47 2323 8000 |
| www.avocet.co.uk | www.buchanan.uk.com | www.ambrian.com | www.jpmorgancazenove.com | www.arcticsec.no | www.first.no |
Notes to Editors
Avocet Mining PLC ("Avocet" or "the Company") is a mining company listed on the AIM market of the London Stock Exchange (Ticker: AVM). 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 has a number of other advanced exploration projects in West Africa and South East Asia.
Background to operations
Inata in Burkina Faso, West Africa, has a resource of 1.7 million ounces and reserves of 944,000 ounces. Inata poured first gold in December 2009 and is currently ramping up to full production rates in excess of 10,000 ounces per month. Other assets in West Africa include exploration licences in Burkina Faso, Guinea and Mali (the most advanced being the Tri-K gold exploration project in Guinea with a resource of 667,000 ounces).
Penjom is Malaysia's largest gold producer and was developed by Avocet after applying modern technology to grass roots exploration 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 270,000 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.