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 news came with a trading halt on Barrick’s stock on the TSX effective 12:04pm Toronto time, and on stock inSilver Wheaton (NYSE:SLW) (TSE:SLW), the embattled giant’s partner on the project, a few minutes later. Prior to the stop trade order, stock in Barrick was trading down, hitting an intraday low of $19.41 per share from an open of $19.56, a far cry from the stock’s 52 week high of $43.30 per share.
Klondex Mines' Fire Creek praised for high grades, strong economic returns and potential upside by Casimir Capital
Klondex Mines (TSE:KDX) was touted as having a high grade resource in a strategic location with potential for a "number of upside opportunities" on Friday, in an initial coverage report by Casimir Capital's Erin Winmill. The analyst started the advanced-stage development company, which is focused on its Fire Creek gold project in Nevada, with a speculative buy rating and a $2.50 price target - more than double its current trading price.
Revett Minerals (NYSE MKT:RVM) (TSE:RVM) plunged almost 25 per cent on Thursday after the company said it must slash its workforce at its Troy mine amid some unexpected structural damage found as part of its underground development work.
Sunridge Gold Corp. (CVE:SGC) has added more good news to an already auspicious month with the completion of a mineral resource estimate for the Kodadu target on the company’s Asmara project in Eritrea, the sixth such mineral resource defined by the Vancouver-based exploration and development company on the property.
The new DFS for Aureus's New Liberty gold mine in Liberia has increased the net present value of the asset, and points to lower operating costs and improved proven plus probable reserves.
Amid declining gold prices, several miners are struggling to keep costs down, but Sacre-Coeur Minerals (CVE:SCM) (OTC:SCRMF) is not one of them. The company boasts all-in cash production costs of less than $500 an ounce at its alluvial/elluvial operations in Guyana.
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