Portfolio

Avocet Mining - On course to at least double gold reserves to 2m oz

January 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.

In recent times we've pointed out how rising commodity prices benefit gold miners both through improved profit margins and because a greater proportion of the ore in the ground becomes commercially extractable, thereby triggering significant upgrades to reserves. However, the great thing about Avocet Mining, which we first touched on last month, is that even without any further price spikes it is on course to announce significant increases in its reserves by drilling some highly prospective assets in West Africa, which were originally acquired in June 2009. Finance director Mike Norris, who we spoke with last month, is confident that this will at the very least yield a doubling in proven and probable reserves to 2m oz in 2011 but ...

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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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