14 Jun 2012 13:30
Appointment of Non-executive Director
Avocet Mining PLC ("Avocet" or "the Company"), the 90% owner and operator of the Inata Gold Mine in Burkina Faso,announces the appointment of Noël Harwerth(64) as a Non-executive Director.
Noël is an attorney by training and has extensive experience in the natural resources,manufacturing, infrastructure and financial services sectors. She will chair Avocet'sRemuneration Committee, and has been appointed to the Audit,Nomination and Health, Safety and Environment Committees.
CurrentlyNoël serves as a non-executive director on the boards of the Harry Winston Diamond Corporation, London Metals Exchange Holdings, Royal Sun Alliance and Logica. Previously she held Non-executive directorships with The TfL Group and Corus Group (now Tata Steel Europe).
During her full-time career Noël has a proven record of re-focusing and re-structuring international businesses including six years at Dun & Bradstreet Corporation as Chief Tax Officer, as well as 15 years at Citigroup where she was latterly Chief Operating Officer of Citigroup International, London. Prior to joining Citigroup, Noël held a number of senior executive positions at Kennecott Copper Corporation over six years.
Commenting on the appointment, Avocet Chairman, Russell Edey said:
"I welcome Noël to the Avocet Board, where her extensive and multi-disciplinary experience across a number of capital intensive industries will prove to be of great value. As Avocet enters its next phase of growth, Noël's risk management expertise will help guide the Company in ensuring it continues to deliver solid returns to shareholders."
The above disclosure is made pursuant to paragraph 9.6.13R of the Listing Rules of the UK Listing Authority ('UKLA'). There are no other disclosures to be made pursuant to paragraph 9.6.13R (1) - (6) of the Listing Rules.
For further information please contact
Avocet Mining PLC | BuchananFinancial PR Consultants | J.P. Morgan CazenoveLead Broker | Arctic SecuritiesFinancial Adviser & Market Maker | SEB Enskilda Market Maker |
Brett Richards, CEOMike Norris, FDAngela Parr, IR | Bobby MorseJames Strong | Michael Wentworth-StanleyNeil Passmore | Arne WengerPetter Bakken | Fredrik Cappelen |
+44 20 7766 7676 | +44 20 7466 5000 | +44 20 7588 2828 | +47 2101 3100 | +47 2100 8500 |
Notes to Editors
Avocet Mining PLC is a gold mining and exploration company listed on 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 West Africa.
In Burkina Faso the Company owns 90% of the Inata Gold Mine. The deposit at Inata currently comprises a Mineral Resource of 3.46 million ounces and a Mineral Reserve of 1.85 million ounces. The Inata Gold Mine poured its first gold in December 2009 and produced 167,000 ounces of gold in 2011.
Other assets in Burkina Faso include eight exploration permits in surrounding the Inata Gold Mine in the broader Bélahouro region. The most advanced of these projects is at Souma, some 20 kilometres from the Inata Gold Mine, where a Mineral Resource of 0.56 million ounces exists.
In Guinea, Avocet owns twelve exploration licenses in the north east of the country. Mineral Resource development has been ongoing since 2005 and the project at Tri-K is the most advanced. Within the Tri-K project, Koulékoun has a Mineral Resource of 1.83 million ounces and Kodiéranof 0.4 million ounces.