1 Oct 2013 07:00
Release of Competent Person's Report
Avocet Mining PLC ('Avocet' or the 'Company') reports that CSA Global, an independent technical consultant, has completed its Competent Person's Report ('CPR') on the Company's assets in Burkina Faso and Guinea. The CPR includes background on the new life of mine plan at Inata, which was announced on 8 August 2013. The CPR is now available on the Company's website, at www.avocetmining.com/reports-presentations.html.
An update on the ongoing feasibility study at Tri-K, which is being completed by Tenova Bateman of South Africa, is expected to be released in the coming weeks.
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 project, which is currently in the feasibility study stage.