AVM.L Regulatory News (AVM)

8 Feb 2007 07:00

Avocet Mining PLC08 February 2007 Avocet Mining PLC THIRD QUARTER GOLD PRODUCTION Avocet Mining ("Avocet" or "the Company") today announces gold production of42,700 ounces for the third quarter ending 31 December 2006 (compared with54,326 ounces for the same period last year) and 134,818 ounces for the firstnine months ended 31 December 2006 (158,595 ounces). Gold production from Penjom in Malaysia amounted to 22,961 ounces for thequarter (28,889 ounces) and 73,720 ounces for the first nine months (89,422ounces). Production from ZGC in Tajikistan was 8,523 ounces for the quarter (10,362ounces) and 26,403 ounces for the first nine months (28,356 ounces). Production from the North Lanut dump leach mine in Indonesia was 11,216 ouncesfor the quarter (15,075 ounces) and 34,695 ounces for the first nine months(40,817). Jonathan Henry, Chief Executive Officer, commented: "Gold production achieved during the third quarter is a creditable performanceduring what has been a year of investment in Avocet's core assets. Though goldproduction was slightly below market expectations, we anticipate the financialperformance of the Company will be in line with these expectations due to theimpact of lower than expected cash costs and higher gold prices currently beingachieved. Avocet remains committed to becoming a leading low cost producer andwe look forward to updating shareholders on our performance following ourfinancial year end of 31 March." Avocet is a mining company listed on the AIM market of the London Stock Exchange(Ticker: AVM). The Company's principal activities are gold mining andexploration in Malaysia (as 100% owner of the Penjom mine, the country's largestgold producer), Tajikistan (as 75% owner and operator of ZGC, Tajikistan'sprincipal gold mine), and Indonesia (as 80% owner of the North Lanut gold minein North Sulawesi). The Company has a number of advanced mining and explorationprojects in Asia and owns 26% of Dynasty Gold Corporation, a Canadian listedexploration company active in Western China. ________________________________________________________________________________For further information please contact: Avocet Mining PLC Buchanan CommunicationsJonathan Henry (Chief Executive) Bobby Morse, Director020 7907 9000 Ben Willey, Associate Directorwww.avocet.co.uk Tel: 020 7466 5000 www.buchanan.uk.com Fiona KindnessGrant Thornton Corporate Finance020 7383 5100 This information is provided by RNS The company news service from the London Stock Exchange