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
True Gold Mining (CVE:TGM) has received all the permits for its Karma gold project after the Burkina Faso council of ministers approved the mining documents for the Kao and Nami deposits.
Probe Mines (CVE:PRB), which is advancing its Borden gold project in Ontario, has made a strong move, appointing ex-Barrick CEO Jamie Sokalsky as a director and the company's new non-executive chairman.
Midway Gold (TSE:MDW) (NYSE-MKT:MDW) is advancing construction at its Pan project in Nevada and said mining has begun, with the first gold pour targeted for late in the fourth quarter of this year.
Klondex Mines (TSE:KDX) (OTCQX:KLNDF) has discovered the third mineralized structure in the west zone of its Fire Creek project in Nevada since releasing its preliminary economic study earlier this year.
Canamex Resources (CVE:CSQ) (OTCQX:CNMXF) says that follow-up sampling on high grade drill intervals at its Bruner gold project in Nevada has returned 40 percent higher gold grades than previously.
Toronto-based Yamana Gold (TSE:YRI)(NYSE:AUY) fell on Wednesday after the company said that ramp up activities at its C1 Santa Luz project in Brazil have been temporarily suspended, and it will be putting the mine on care and maintenance.
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