Avocet Mining PLC Extension to deadline at Tri-K (0042J)
September 06 2016 - 2:00AM
UK Regulatory
TIDMAVM
RNS Number : 0042J
Avocet Mining PLC
06 September 2016
6 September 2016
Extension to deadline at Tri-K
Avocet Mining PLC ("Avocet" or "the Company") announces that it
has received written confirmation from the Government of Guinea
that it will not enforce its right to withdraw the Tri-K Mining
Permit on 27 September 2016 for a further three months (to 27
December 2016), in view of the fact that the Company is in advanced
discussions with interested parties with regard to the financing of
that project.
The Company welcomes this extension, and expects to be able to
announce the terms of a deal to finance Tri-K in the coming
weeks.
FOR FURTHER INFORMATION PLEASE CONTACT
Avocet Mining PLC Bell Pottinger J.P. Morgan Cazenove
Financial PR Consultants Corporate Broker
================= ========================= =========================
David Cather, CEO Daniel Thöle Michael Wentworth-Stanley
Jim Wynn, FD
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+44 20 3709 2570 +44 20 3772 2555 +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% 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 kilometres from the Inata Gold Mine.
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 the CIL processing method. An exploitation
permit was awarded for Tri-K on 27 March 2015.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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