Updates

Avocet Mining - Inata mine drives strong results

April 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Although final results were muddied by exceptional items, Avocet's underlying EBITDA of US$86m and pretax profit of US$33m substantially beat expectations. Operationally this was a transformational year with its flagship Inata mine in Burkina Faso achieving first production and quickly ramping up to produce 138,000 oz gold at a cost of US$531 / oz. Work is now underway to increase capacity to 165,000 oz for this year, while the current drilling program is aiming to double reserves to nearly 2m oz by the third quarter. Elsewhere in Africa Avocet has achieved encouraging drilling results in its Tri-k block in North Eastern Guinea, which is targeting three prospects with the aim of upgrading resources from 665,000 oz to around ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

Dragon Oil - Production hits record 57,000 bopd

TMI Trader Portfolio - April 11

Avocet Mining (August 2012)

Avocet Mining - Aiming to triple gold production to 500,000 oz by 2015 (March 2012)

Avocet Mining - Moving to the Full List (December 2011)

Avocet Mining - Restructures gold hedge (October 2011)

Avocet Mining (August 2011)

Avocet Mining (March 2011)

Avocet Mining - Disposes of non-core assets (February 2011)

Avocet Mining - On course to at least double gold reserves to 2m oz (January 2011)

Avocet Mining - Gold play focusing on big reservesâ€™ upgrades to drive shares highe (December 2010)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X