Updates

Avocet Mining - Disposes of non-core assets

February 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.

Avocet has announced the long awaited sale of its non-core gold operations in South East Asia to Indonesian mining fund J&Partners for US$200m cash, usefully higher than the US$140m pre-sale estimate. Although these assets had generated nearly 74,000 oz out of a group total of 165,000 in the first nine months of 2010 and will therefore leave a short-term hole in production, their costs had been rising sharply, reflecting their increasing maturity. More importantly, the cash will provide additional firepower to increase exploration at its highly prospective gold licences in Burkina Faso and Guinea as well as look for further acquisitions elsewhere in West Africa. We made the shares a New Year NAP las ...

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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)

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Avocet Mining - Inata mine drives strong results (April 2011)

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

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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.

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