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Update on Events in Burkina Faso

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RNS Number : 9944R
Avocet Mining PLC
27 September 2017



Update on Events in Burkina Faso




Avocet Mining Plc (the 'Company') regrets to announce today that a convoy carrying fuel to the Inata Mine was subject to a security incident which resulted in two fatalities and two wounded from among the gendarme escort.

Initial reports indicate that the gendarme escort was itself the target of the attack.

The Company will be reviewing its security measures and continue to take appropriate steps to ensure the safety of the mine and its employees.

The Company will update the market as appropriate.



Avocet Mining PLC


Financial PR

J.P. Morgan Cazenove

Corporate Broker

Boudewijn Wentink, CEO
Yolanda Bolleurs, CFO

Tim Blythe

Camilla Horsfall

Megan Ray



Michael Wentworth-Stanley

+44 20 3709 2570

+44 207 138 3204

+44 20 7742 4000






Avocet Mining PLC ("Avocet" or the "Company") is an unhedged gold mining and exploration company listed on the London Stock Exchange (ticker: AVM.L) and the Oslo Børs (ticker: AVM.OL). The Company's principal activities are gold mining and exploration in West Africa.

In Burkina Faso the Company owns 90 per cent of the Inata Gold Mine. The Inata Gold Mine poured its first gold in December 2009 and produced 72,485 ounces of gold in 2016. Other assets in Burkina Faso include five exploration permits surrounding the Inata Gold Mine in the broader Bélahouro region. The most advanced of these projects is Souma, some 20 kilometers from the Inata Gold Mine.

The Company also holds an interest in the Tri-K project in Guinea. On 22 May 2017, the Company announced that it had completed its agreement to dispose of 40 per cent of the project to Managem, a Moroccan group listed on the Casablanca stock exchange, which will increase upon completion of a bankable feasibility study for a CIL plant at the site, the incurring of expenditures of at least US$10 million, and the enlarging of the ore reserve, to 70 per cent (in the event of an increase of the reserve to 1 million ounce or more) or 60 per cent (if less than 1 million ounces).

This information is provided by RNS
The company news service from the London Stock Exchange

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