2 May 2013 16:05
2 May 2013
Avocet Mining PLC
Publication of Circular
Further to the announcement by Avocet Mining PLC ("Avocet" or "the Company") earlier today releasing the unaudited results of the Group for the quarter ended 31 March 2013, the Company announces the publication of a circular to shareholders convening a general meeting of the Company to be held at 11.00 a.m. on 28 May 2013, seeking approval of the proposed related party transaction between the Company and Manchester Securities Corp. (an affiliate of Elliott Associates L.P.).
A copy of the circular has been submitted to the National Storage Mechanism (www.morningstar.co.uk/uk/NSM) and is available on the Company's website at www.avocetmining.com
A timetable of events related to the General Meeting is as follows:
Receipt of forms of proxy/CREST voting instructions 11.00 am 26 May 2013
General Meeting 11.00 am 28 May 2013
FOR FURTHER INFORMATION PLEASE CONTACT
Avocet Mining PLC | Pelham Bell PottingerFinancial PR Consultants | J.P. Morgan CazenoveCorporate Broker | Arctic SecuritiesFinancial Adviser & Market Maker | SEB EnskildaFinancial Adviser &Market Maker |
David Cather, CEOMike Norris, FDRob Simmons, IR | Daniel Thöle | Michael Wentworth-Stanley | Arne WengerPetter Bakken | Fredrik Cappelen |
+44 20 7766 7676 | +44 20 7861 3232 | +44 20 7742 4000
| +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 4.7 million ounces and an Ore Reserve of 0.9 million ounces. The Inata Gold Mine poured its first gold in December 2009 and produced 135,189 ounces of gold in 2012.
Other assets in Burkina Faso include eight exploration permits surrounding the Inata Gold Mine in the broader Bélahouro region. The most advanced of these projects is Souma, some 20 kilometres from the Inata Gold Mine, where there is a Mineral Resources estimate of 0.8 million ounces.
In Guinea, Avocet owns exploration licences in the north east of the country. Mineral Resource development has been ongoing since 2005 and the Tri-K project is the most advanced, which currently has a Mineral Resource estimate of 3.2 million ounces and where a feasibility study is underway.