Avocet Mining PLC - Re Forward Gold Sales

RNS No 1699a
AVOCET MINING PLC
9th July 1997


                        AVOCET MINING PLC

              FORWARD GOLD SALES UNDERPIN 2 YEARS'
             PROFITABILITY FOR AVOCET'S PENJOM MINE

In  view of the current gold price, the company wishes to confirm
that   it   has  hedged  sufficient  gold  to  ensure  profitable
production  from  its Penjom mine in Malaysia for  the  next  two
years.    As  of  today,  Avocet  Gold  Ltd,  its  wholly   owned
subsidiary, has sold 213,000 ounces of gold for delivery over the
next  two  years at an average price of US$382 per  ounce.   With
stated  cash  costs of less than US$200 per ounce  these  forward
sales  underpin the gold mine's profitability for  the  next  two
years  from now, based on current production plans to produce  at
the rate of 100,000 ozs per annum.  Avocet Gold's counterparty is
Macquarie  Bank  Ltd,  the provider of project  finance  for  the
development.

J.S. de W. Waller, Chief Executive
9 July 1997

For further information contact:

Avocet Mining PLC
 Jocelyn Waller - Chief Executive                   0171 834-1811
                                                      0378 164376

Walter Judd Public Relations
 Charles Wyatt                                      0171 236-4541

More information about the company, can be located on our web
site at the following address:  http://www.avocet.co.uk

If you wish to have all further news releases sent to your own e-
mail address please send details to Jonathan Henry by fax or to
the following:
e-mail address              avocetmining@compuserve.com
CompuServe                  101657,2715


END

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