Avocet is a focused West African gold mining and exploration company with its primary operations in Burkina Faso and Guinea. The company is listed on the London Stock Exchange and the Oslo Børs. The Company joined the FTSE 250 index in March 2012.
Avocet currently operates one gold mine, Inata in northern Burkina Faso, and has a pipeline of exploration projects in Burkina Faso and Guinea. The deposit at Inata presently comprises a Mineral Resource of 3.46 million ounces and a Mineral Reserve of 1.85 million ounces. Inata poured its first gold in December 2009 and produced approximately 167,000 ounces of gold in 2011.
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Recent Sector News
The Halifax, Nova Scotia based company also identified the Corral and Cristina zones as having the potential to resume mining, identifying targets that include 17 meters of 3.58 g/t gold at Corral and 31.4 meters of 1.18 g/t gold at Cristina.
Goldcorp bought the Matamoros property, of about a hectare, to build a power substation and a pump unit for driving piped water drawn from 25 wells, to use in the mining process.
The Toronto based company said that the sale of Zaldivar is just one of several initiatives that the company is considering in an effort to improve the balance sheet
Eagle Hill Exploration delivers an encouraging Preliminary Economic Assessment for the Windfall Lake Gold Project
The PEA envisages a 1,200 tonne per day underground mine producing 106,200 ounces of payable gold annually for 7.8 years at an average total cash cost of C$558/oz. of gold (US$480/oz.).
HC Wainwright has recently begun coverage of McEwen Mining, giving it a Buy rating and US$1.25 price target.
Last December, Treasury raised $800,000 to advance its flagship project, with a bankable feasibility study expected to be delivered during the first half of this year.
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