Avocet Mining PLC Comment on press speculation (2327L)
September 29 2016 - 9:00AM
UK Regulatory
TIDMAVM
RNS Number : 2327L
Avocet Mining PLC
29 September 2016
29 September 2016
Comment on press speculation
Avocet Mining PLC ("Avocet" or "the Company") notes recent press
speculation regarding the interest of Managem SA, a Moroccan mining
group listed on the Casablanca Stock Exchange (ticker: MNG), in its
Tri-K asset in Guinea.
The Company confirms that it has held discussions with several
interested parties, including Managem SA, but that negotiations
remain ongoing and no transaction has been concluded.
Avocet has been considering all options to fund the development
of the Tri-K project since the submission of its feasibility study
in September 2013.
Further announcements will be made in this matter as soon as
appropriate.
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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