25 Jan 2017 07:00
Transfer of Listing Category
Avocet Mining PLC ("Avocet" or "the Company"), the West African focused gold mining and exploration company with operations in Burkina Faso and Guinea, announces that, further to the announcement on 29 November 2016, and the passing of the relevant resolution by its shareholders at the General Meeting held on 22 December 2016, the Company's listing category will be transferred from "premium listing (commercial company)" to "standard listing (shares)" as of 08.00 a.m. today.
The Company's ordinary shares will continue to trade on the London Stock Exchange's Main Market.
FOR FURTHER INFORMATION, PLEASE CONTACT
Avocet Mining PLC | Blytheweigh Financial PR | J.P. Morgan Cazenove Corporate Broker |
David Cather, CEOJim Wynn, FD | Tim Blythe Camilla Horsfall Megan Ray
| Michael Wentworth-Stanley |
+44 20 3709 2570 | +44 207 138 3204 | +44 20 7742 4000
|
NOTES TO EDITORS
Avocet Mining PLC ("Avocet" or the "Company") is an unhedged 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 per cent of the Inata Gold Mine. The Inata Gold Mine poured its first gold in December 2009 and produced 74,755 ounces of gold in 2015. Other assets in Burkina Faso include five exploration permits surrounding the Inata Gold Mine in the broader Bélahouro region. The most advanced of these projects is Souma, some 20 kilometers from the Inata Gold Mine.
The Company also holds an interest in the Tri-K project in Guinea. On 10 October 2016, the Company announced that it had agreed to dispose of 40 per cent of the project to Managem, a Moroccan group listed on the Casablanca stock exchange, which remains subject to approval by the Guinean National Assembly, and which will increase upon completion of a bankable feasibility study for a CIL plant at the site, the incurring of expenditures of at least US$10 million, and the enlarging of the ore reserve, to 70 per cent (in the event of an increase of the reserve to 1 million ounce or more) or 60 per cent (if less than 1 million ounces).