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
Eldorado Gold is Greece’s largest foreign investor and it has been targeted by Greek and EU authorities
Sunridge to obtain license for the Asmara Project as part of a comprehensive 20 year mining agreement
Sunridge expects to secure the mining license shortly such that AMSC will be able to raise the capital to develop the mining and shipping of the high-grade copper direct shipping ore on the Debarwa deposit during Phase 1A of the project
The Nevada Division of Environmental Protection (NDEP), Bureau of Mining Regulation and Reclamation has issued a Notice of Decision, removing all tonnage restrictions.
Integra is considering Lamaque South and the adjacent Sigma-Lamaque Milling Complex, which has produced a combined 4.5 million ounces of gold in the past, as part of the same deposit because they are only 500 meters apart.
Eagle Hill Exploration to own 28% of new entity consolidating five gold companies under Oban Mining’s leadership
Upon closing of the transactions, Eagle Hill will own 28% of New Oban. Temex will hold 16%, Ryan Gold 24% and Corona Gold 19% while Osisko and Dundee will own approximately 18% and 15% of New Oban, respectively.
On May 8, Gold Resource Corp reported a net income of US$5.1 million, or US$0.09/share for the first quarter of 2015 on sales of US$28.4 million
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