Avocet is a gold mining company that was originally admitted to the Official List of the London Stock Exchange in 1996 and moved its listing to AIM in July 2002. In December 2011, Avocet was re-admitted to the official list of the LSE, which is now its primary listing.
Avocet is committed to becoming a leading gold mining and exploration company. We aim to become a 500,000 ounce per annum gold producer in the medium term, with a portfolio of operations, which include long life mines and a broadly sustainable reserve base, all underpinned by a strong financial base and world class practices with regard to health and safety, people, community, the environment and operational performance criteria..
Avocet's gold mining and exploration operations were historically located in South East Asia. In June 2009, Avocet acquired Wega Mining and, through it, operations in Burkina Faso, Guinea and Mali. Following this acquisition the decision was taken to divest of our South East Asian assets in order to focus on the highly prospective gold region of West Africa. In December 2010, an agreement was reached to sell our South East Asian assets for US$200 million.
The acquisition of Wega Mining brought Avocet 90% ownership of the Inata gold project in the Bélahouro district of northern Burkina Faso. Inata achieved commercial production following first gold pour on 20 December 2009. Production capacity was subsequently increased and the Inata mine produced approximately 135,000 ounces of gold in 2012, and we expect to produce 125-130,000 ounces of gold in 2013.
The Bélahouro district is in the eastern part of the Birimian greenstone belt. Within this district, and in addition to Inata, Avocet acquired the exploration project at Souma among a total of eight exploration licences. Souma has a mineral resource of 0.78 million ounces. Souma is subject to a further drilling campaign to increase its Mineral Resource and generate an ore reserve that may supplement the ore feed at Inata or provide additional production for a new, separate plant at Souma.
In Guinea, an exploration programme in the Tri-K Block of permits, which is situated in a large basin of Birimian rocks, was initiated in 2010. The Tri-K block comprises three main prospects - Koulékoun, Kodiéran and Kodiafaran, among a total of 12 exploration licences. Avocet's most advanced exploration project in Guinea is the Tri-K project, which is host to a Mineral Resource estimate of 3.0 million ounces. Tri-K is being expedited towards a feasibility study during 2013.
 
 
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