Avocet Mining PLC Gold shipment recommenced at Inata (3909Q)
November 29 2016 - 2:01AM
UK Regulatory
TIDMAVM
RNS Number : 3909Q
Avocet Mining PLC
29 November 2016
Gold shipment recommenced at Inata
Further to the announcement on 25 November, Avocet Mining PLC
("Avocet" or "the Company") announces that shipment #315 containing
approximately 6,100 ounces left Inata on Friday 25 November, and
successfully passed through customs at Ouagadougou airport. The
gold is currently in transit to Rand Refinery in Johannesburg,
South Africa.
Discussions are continuing to secure the release the 1,400
ounces of shipment #314, which currently remain under seizure.
Further updates will be provided in due course.
FOR FURTHER INFORMATION PLEASE CONTACT
Avocet Mining PLC Bell Pottinger J.P. Morgan Cazenove
Financial PR Consultants Corporate Broker
David Cather, CEO Lorna Cobbett Michael Wentworth-Stanley
Jim Wynn, FD
+44 20 3709 2570 +44 (0)20 3772 2500 +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 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% of the project to Managem, a Moroccan
group listed on the Casablanca stock exchange, subject to, inter
alia, shareholder approval, 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% (in the event of an increase
of the reserve to 1 million ounce or more) or 60% (if less than 1
million ounces).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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