http://www.miningweekly.com
R/€ = 16.69 Change: 0.07
R/$ = 14.67 Change: 0.06
Au 1177.69 $/oz Change: 0.77
Pt 781.75 $/oz Change: 6.05
 

Topic

Avocet sells Norwegian subsidiary Wega

By: Simone Liedtke     16th March 2018 Gold mining and exploration company Avocet Mining has sold its wholly-owned Norwegian subsidiary Wega Mining and certain intercompany receivables to Natholmen for $400 000 in cash. The sale forms part of a larger restructuring effort involving its overdue loans totalling $29.2-billion to creditor... 

Avocet completes Resolute sale

By: Anine Kilian     9th February 2018 Aim-listed Avocet Mining has completed the sale of Resolute to the Balaji group of companies for $5-million. Completion of the sale was delayed three times, most recently until February 8. 

Avocet again delays sale of Resolute

By: Anine Kilian     31st January 2018 The completion of the sale of Aim-listed Avocet Mining’s Resolute Mining subsidiary to Balaji Group has been delayed again, this time to February 8. Completion of the sale was initially expected to occur on January 11, but was subsequently pushed back by five days to January 25 and now to... 

Avocet defers sale of Resolute to January 30

By: Anine Kilian     26th January 2018 The completion of the sale of Aim-listed Avocet Mining’s Resolute Mining subsidiary to Balaji Group has been deferred by five days to January 30. Avocet in December announced that it had entered into an agreement to sell all its assets in Burkina Faso, including the Inata gold mine, to Balaji for... 

Gold miner Avocet to sell Burkina Faso assets

By: Reuters     18th December 2017 Struggling miner Avocet Mining Plc said it would sell its assets in Burkina Faso for $5 million to Ghana-based Balaji Group, staving off potential a bankruptcy for its units in the West African country. The sale, which includes the Inata gold mine and the Souma exploration project, is part of a... 

Avocet swings to H1 loss

By: Anine Kilian     2nd October 2017 Aim-listed Avocet Mining posted a net loss of $5.48-million for the six months to June 30, compared with a profit of $3.81-million in the first half of 2016. Revenues fell by 49% year-on-year to $26.40-million, while gold sales halved to 21 377 oz. 

Avocet shares fall 26% as it considers options for SMB subsidiary

By: Anine Kilian     4th September 2017 The share price of LSE-listed Avocet Mining fell by 26% on Monday morning, after the company announced that it was considering filing for insolvency of its Société des Mines de Bélahouro (SMB) subsidiary, which operates the Inata gold mine, in Burkina Faso. This follows after a standstill... 

Avocet subsidiary secures debt standstill agreement with creditors

By: Creamer Media Reporter      31st May 2017 LSE-listed Avocet Mining’s Société des Mines de Bélahouro (SMB) subsidiary, which operates the Inata gold mine, in Burkina Faso, has entered into a standstill agreement with its major trade and financial creditors – a key milestone in SMB's balance sheet restructuring process.   SMB and its major... 

Avocet completes first closing on Tri-K project

By: Anine Kilian     22nd May 2017 West Africa-focused Avocet Mining completed the first closing of its Guinea-based Tri-K project. The company received a Presidential decree this month, formalising a mining convention for the project, paving the way for a partial sale to Morocco-based Managem. 

Inata workers placed on ‘technical unemployment’

By: Anine Kilian     10th May 2017 West Africa-focused Avocet Mining has placed most of its workers at its Inata gold mine, in Burkina Faso, on “technical unemployment” for the next three months, as the company seeks to lower fixed costs during production stoppages. Production at the Inata mine continues to be affected by... 

Avocet appoints new CEO, CFO to assist in the company’s restructuring

By: Anine Kilian     3rd April 2017 West Africa-focused gold producer Avocet Mining has appointed Boudewijn Wentink as CEO with immediate effect. His primary strategic objective will be to ensure the refinancing and restructuring that is critical to the future of the company. 

Judge orders lifting of Avocet gold seizure

By: Anine Kilian     8th November 2016 LSE-listed Avocet Mining’s share price rose 28.7% on Tuesday morning, after it announced that a judge in Burkina Faso had ordered the lifting of the seizure of a gold shipment last month. The seizure of a 1 400 oz gold shipment was affected by bailiffs acting on behalf of former employees of... 

Avocet temporarily suspends Burkina Faso mine

By: Megan van Wyngaardt     27th October 2016 LSE-listed Avocet Mining’s share price fell by 38.5% on Thursday as it announced that it would temporarily suspend operations at its Inata mine, in Burkina Faso. This followed the seizure of a 1 400 oz gold shipment by bailiffs acting on behalf of former employees of Société des Mines de... 

Avocet dealt blow as 1 400 oz of gold is seized in labour row

By: Megan van Wyngaardt     24th October 2016 LSE-listed Avocet Mining’s shares fell by 24.5% from 83.12p a share at Friday’s close to 62.75p apiece on Monday morning, following the news that a gold shipment containing about 1 400 oz from the Inata gold mine, in Burkina Faso, had been seized. Bailiffs acting on behalf of former employees of... 

Avocet enters into JV with Moroccan mining group for Guinea project

By: Natasha Odendaal     10th October 2016 LSE-listed Avocet Mining has entered into a conditional joint venture (JV) agreement for its Tri-K gold project in Guinea, that will see Moroccan mining group Managem eventually gain a majority interest in the project. Initially, Managem will pay Avocet $4-million for an minority interest in the... 

Avocet production down partly owing to strike

By: Megan van Wyngaardt     21st May 2015 Aim-listed Avocet Mining produced 17 011 oz for the first quarter of the year, at a cash cost of $1 113/oz. This was lower than the company’s fourth quarter 2014 results, when it produced 19 503 oz at a cash cost of $1 052/oz, owing to a number of factors. Ore milling at the company’s Inata mine,... 

Avocet secures mining licence for Guinea gold play

By: Natalie Greve     2nd April 2015 Following an application to the Guinea government in September 2013, unhedged gold miner Avocet Mining’s subsidiary, Wega Mining Guinea, has been granted a mining licence for its Tri-K project, in the northeast of the country. The group said on Thursday that the licence was granted based on... 

Avocet cuts FY production guidance at Burkina Faso mine

By: Creamer Media Reporter      6th November 2014 West Africa-focused miner Avocet Mining has lowered its full-year output guidance to 95 000 oz of gold, compared with the previously targeted 105 000 oz, owing to lower-than-expected production in the quarter ended September 30. During the third quarter of the year, the company’s Inata mine, in... 

Explorer optimistic about Guinea

By: Ilan Solomons     11th July 2014 Drilling is under way at Australian gold and base metals explorer Drake Resources’ Seimana gold project, in the Siguiri province of northern Guinea. CEO Jason Stirbinskis tells Mining Weekly that the company expects results that reflect the high-quality gold surface samples collected thus far... 

Avocet reports stable production guidance, as reserves decrease

By: Natasha Odendaal     7th March 2013 London-listed gold mining and exploration company Avocet Mining on Thursday said gold production and cash costs for 2013 were expected to remain in line with that of the prior year. The Inata gold operation, in Burkino Faso, was expected to produce about 135 000 oz of gold at a cash cost of... 

First
Prev
1
Next
Last

Latest News

more

Latest Videos

more

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Close