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MEI Online: Commodities: Metallic Ores: Gold: Latest News: February 23rd 2010

 
 

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:: Avocet Ships First Gold from Inata

Avocet Mining PLC announces the first shipment of gold from its Inata mine in Burkina Faso. Inata poured first gold on 20 December 2009 and this week exported approximately 11,000 ounces of gold to Rand Refinery’s facility in South Africa. The Company’s Burkina subsidiary, Société des Mines de Bélahouro, which owns Inata, signed a refining contract with Rand Refinery in February. Proceeds from the sale of gold of approximately US$12 million are expected to be received next week.

The Inata mine is expected to reach a steady state production rate of over 10,000 ounces per month by July 2010. During the commissioning period to date, the plant recovery and gold produced have been ahead of schedule.

Commenting on the first gold shipment from Inata, Jonathan Henry, CEO of Avocet, stated: “Since first gold was poured the plant has performed ahead of expectations, and gold production to date has been well above our ramp up schedule."

 

 

   

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