19 Aug 2014 08:20
19 August 2014
VOTING RIGHTS AND CAPITAL
In accordance with rule 5.6.1A of the Financial Conduct Authority's Disclosure and Transparency Rules, following the admission to trading today of 9,950,000 ordinary shares of £0.05 each today, Avocet Mining PLC's (the "Company") issued votable capital consists of 209,054,701 ordinary shares of £0.05 pence each ("Ordinary Shares"), all of which are validly and legally issued and fully paid-up. An additional 442,009 Ordinary Shares are held as treasury shares at the date of this announcement. As a result, the total issued capital of the Company is £10,474,836, divided into 209,496,710 Ordinary Shares, all of which are validly and legally issued and fully paid.
The figure of 209,054,701 Ordinary Shares represents the total voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
FOR FURTHER INFORMATION PLEASE CONTACT
Avocet Mining PLC | Bell Pottinger Financial PR Consultants | J.P. Morgan Cazenove Corporate Broker | NM Rothschild Financial Adviser | Investec Bank Plc Financial Adviser |
David Cather, CEOMike Norris, FDJim Wynn, Company Secretary | Daniel Thöle | Michael Wentworth-Stanley | Roger Ewart-Smith Sam Critchlow | Jeremy Wrathall |
+44 020 3709 2570 | +44 20 7861 3800 | +44 20 7742 4000
| +44 20 7280 5424 | +44 20 7597 4180 |
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% of the Inata Gold Mine. Across the Bélahouro district, which includes both Inata and Souma, there is a Mineral Resource of 6.1 million ounces and an Ore Reserve of 0.5 million ounces. The Inata Gold Mine poured its first gold in December 2009 and produced 118,443 ounces of gold in 2013. 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 Resource estimate of 0.8 million ounces.
In Guinea, Avocet owns 100% of the Tri-K Project in the north east of the country. Drilling to date has outlined a Mineral Resource of 3.0 million ounces, and in October 2013 the Company announced a maiden Ore Reserve on the oxide portion of the orebody, which is suitable for heap leaching, of 0.5 million ounces. As an alternative, the potential exists to exploit the entire 3.0 million ounce Tri-K orebody via CIL processing method.