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
Barrick Gold (NYSE:ABX)(TSE:ABX) reported a drop in third quarter profit on Thursday as the gold miner continued to suffer from lower metals prices and sales volumes, though adjusted earnings beat analysts' estimates.
Northern Gold Mining (CVE:NGM) has unveiled the initial results from its bulk sampling program at its Garrcon deposit, with both the recovery and throughput of the ore called impressive.
True Gold Mining (CVE:TGM) climbed around 5 percent on Tuesday after announcing a preliminary economic assessment on its North Kao deposit, adding another $118 million in after-tax free cash flow to its Karma gold project in Burkina Faso.
Canamex Resources (CVE:CSQ) (OTCQX:CNMXF) has done it again, revealing high grade core drilling results from its Bruner gold project in Nevada, specifically in the Penelas East zone.
Klondex Mines (TSE:KDX)(OTCQX:KLNDF), which is busy refining its Nevada operations and monetizing synergies from an acquisition earlier this year, has increased the amount of gold ounces it recovered in the third quarter by 73 percent from the previous period.
Richmont Mines (TSE:RIC)(NYSE MKT:RIC) has snagged Primero Mining's (TSE:P) chief operating officer Renaud Adams and has appointed him the company's newest president and CEO after previous chief executive officer Paul Carmel was relieved of his duties in July.
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