Avocet Mining PLC Loan agreed with Coris Bank (2642H)
2015年11月30日 - 4:00PM
RNSを含む英国規制内ニュース (英語)
TIDMAVM
RNS Number : 2642H
Avocet Mining PLC
30 November 2015
30 November 2015
Loan agreed with Coris Bank
Avocet Mining PLC ("Avocet" or the "Company") announces that its
Burkina Faso subsidiary, Société des Mines de Bélahouro SA ("SMB"),
has secured a short-term loan of 5 billion CFA (approximately
US$8.2 million) with Coris Bank International, a leading commercial
and retail bank in West Africa.
The proceeds of the loan will be used to address temporary
working capital shortages at the Company's Inata mine in Burkina
Faso, as a result of the disruption to gold shipments and
transportation of supplies in the wake of the recent attempted
coup, together with an anticipated temporary period of mining lower
grades and higher stripping in the Inata North Pit.
The loan carries a coupon of 10%, and is repayable monthly
between January and June 2016. It is secured over the Inata mining
permit and other assets of the mine.
FOR FURTHER INFORMATION PLEASE CONTACT
Avocet Mining PLC Bell Pottinger J.P. Morgan Cazenove
Financial PR Consultants Corporate Broker
================= ========================= =========================
David Cather, CEO Daniel Thöle Michael Wentworth-Stanley
Jim Wynn, FD
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+44 20 3709 2570 +44 20 2772 2500 +44 20 7742 4000
NOTES TO EDITORS
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% of the Inata Gold Mine. The
Inata Gold Mine poured its first gold in December 2009 and produced
86,037 ounces of gold in 2014. 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 kilometres from the Inata Gold Mine.
In Guinea, Avocet owns 100% of the Tri-K Project in the north
east of the country. Drilling to date has outlined a Mineral
Resource of 3.0 million ounces, and in October 2013 the Company
announced a maiden Ore Reserve on the oxide portion of the orebody,
which is suitable for heap leaching, of 0.5 million ounces. As an
alternative, the potential exists to exploit the entire 3.0 million
ounce Tri-K orebody via the CIL processing method. The Company
announced on 2 April 2015 that an exploitation permit had been
awarded for Tri-K.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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