Avocet Mining PLC
Avocet is a gold mining company that was originally admitted to the Official List of the London Stock Exchange in 1996 and moved its listing to the Alternative Investment Market (AIM) - part of the London Stock Exchange, in July 2002. Following the takeover of Oslo-listed Wega Mining ASA in June 2009, a significant proportion of the Company’s shareholders are now based in Scandinavia. As a result, the Company has now listed on the Oslo Stock Exchange (ticker: AVM), and began trading in June 2010. Avocet is committed to becoming a leading gold mining and exploration company. The Company aims to be at least a 300,000 ounce per annum gold producer, with a portfolio of operations, which include long life mines and a broadly sustainable reserve base, all underpinned by a strong financial base and world class practices with regard to health and safety, people, community, the environment and operational performance criteria.
In late June 2009, Avocet completed the acquisition of Wega Mining ASA - an Oslo-listed gold development and exploration company. The acquisition of Wega brings Avocet majority ownership of the Inata gold project in northern Burkina Faso, West Africa. As of April 2010 commenced commercial production, at an annualised rate of over 120,000 ounces per annum, following first gold pour on 20 December 2009. In the Wega-takeover, Avocet also acquired over 20 exploration licences in Burkina Faso, Guinea and Mali, including the Tri-K gold exploration project in Guinea, which has a NI 43-101 compliant gold Indicated Mineral Resource of 666,500 ounces. Avocet believes local knowledge and experience, technical expertise, well established relationships with the respective governments and local communities, combined with a pro-active approach to environmental issues, are vital to ongoing success.
Avocet Mining PLC
9 Berkeley St., 7th Fl.
London, UK W1J8DW