1 Aug 2014 15:15
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Don't have an account? Click here to register.Avocet Mining draws funds to meet corporate needs until end-October
Tue, 04th Aug 2015 11:39
(ShareCast News) - Avocet Mining said it has drawn down $2m in loans to meet its corporate requirements through to the end of October 2015. In a statement, the gold miner said the funding would allow it to continue its business review "while exploring longer term funding options".Shares in the London and Oslo-listed company fell 2.35% to 331p on the news.Avocet owns 90% of the Inata gold mine in the north of Burkina Faso, with the government holding the remaining 10%. It also has exploration interests in Guinea at the Tri-K project.The said it expects to submit to submit two further draw down requests of $200,000 each under one of its loan deals "as required over the coming months"."As part of the business review Avocet continues to consider options for maximising the value of its assets for the benefit of shareholders, including its Inata mine and the adjacent Souma deposit in Burkina Faso, and its Tri-K development project in Guinea," the company said.The Inata mine poured its first gold in December 2009 and produced 86,037 ounces of gold in 2014, compared with its expectations of about 95,000 ounces. Other assets in Burkina Faso include eight exploration permits surrounding Inata in the broader Bélahouro region. The most advanced of these projects is Souma, some 20 kilometres from Inata.A strike at Inata halted operations last December. The company, along with all bullion miners, was hit by a sharp drop in gold prices last year.
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1 Aug 2014 05:21
31 Jul 2014 15:45
31 Jul 2014 09:30
Thursday broker round-up UPDATE
Afren: Oriel places both target price and recommendation under review. Canaccord Genuity places both its target price (prev.: 150p) and its hold recommendation under review. Investec places its target price (prev.: 195p) under review and downgrades from buy to hold. Arbuthnot: Numis ups target pric
Read more31 Jul 2014 05:24
30 Jul 2014 15:27
30 Jul 2014 05:20
29 Jul 2014 15:04
12 Jun 2014 13:29
Avocet Mining Takes Further Steps To Reduce Costs At Inata Gold Mine
LONDON (Alliance News) - Avocet Mining PLC Thursday said it has taken further steps to reduce costs and capital expenditure for its Inata gold mine operation in Burkina Faso, and is still in discussions over the repayment of a loan to its biggest shareholder Elliot Management. The west Afri
Read more12 Jun 2014 06:38
Avocet Mining says financing talks continue
June 12 (Reuters) - Gold miner Avocet Mining Plc said the business review it undertook in January was continuing and that it was still in talks with multiple parties about a range of financing options including the sale of its assets. Avocet is raising funds to repay an outstanding loan du
Read more8 May 2014 13:18
Avocet Mining Sees Gold Production Fall In First Quarter
LONDON (Alliance News) - Avocet Mining PLC Thursday said its gold production fell in its first quarter compared to the previous quarter due to equipment replacements and lower grade mining during the period. The west African gold mining and exploration company said its gold production fell
Read more8 May 2014 08:00
UPDATE 1-Avocet says repairs at Burkina Faso mine hit gold output
(Adds details, share movement) May 8 (Reuters) - Avocet Mining Plc reported a 24 percent decline in gold output for the first quarter after losing nine days of production to the refurbishment of a mill at its flagship Inata mine in Burkina Faso. The company's shares fell more than 8 p
Read more8 May 2014 07:29
UK MORNING BRIEFING: UK Shares Open Higher, Led By BT And Barclays
LONDON (Alliance News) - UK shares have opened mostly higher Thursday ahead of interest-rate decisions by the Bank of England and European Central Bank and amid tentative signs of reduced tensions in Ukraine.
BT and Barclays lead the FTSE 100 at the
8 May 2014 06:38
Avocet Mining first-quarter gold output falls 24 pct
May 8 (Reuters) - Gold miner Avocet Mining Plc said total gold output in the first quarter fell 24 percent as it lost nine production days in March due to refurbishment work at its Inata mine in Burkina Faso. The company, whose primary operations are in Burkina Faso and Guinea, said product
Read more8 May 2014 05:12
UK AGM, EGM Calendar - Week Ahead
| UK AGM, EGM Calendar |
| Thursday, May 8 |
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