News

March 02, 2010

Avocet Mining Looks All Set To Become Aim’s Biggest Gold Producer By The Middle Of This Year

By Alastair Ford

By July, if all goes well, Avocet Mining will have become the Aim market’s largest gold miner, as measured in terms of ounces produced, surpassing Cluff, Norseman, Allied, and a host of others. The company announced at the end of February that it had shipped the first gold from its newly commissioned Inata gold project in Burkina Faso out to the Rand Refinery in South Africa for processing into bullion.

Following the first gold pour, which took place at the end of last year, Avocet announced at the end of January that it had produced 3,200 ounces of gold from Inata. In this latest announcement, dated 26th February, that number had risen to 11,000 ounces, implying production of 7,800 ounces for February or an overall run rate of just under 100,000 ounces on an annualized basis.

By July the company is confident that it will a production rate of 10,000 ounces per month from Inata, equating to...