Avocet Mining sinks on likely Inata reserve downgrade

Shares in gold miner Avocet Mining fell following a mixed third quarter update in which it said that an anticipated reduction in the Inata Mineral Reserves at its Inata mine now makes expansion unlikely in the short term.

Shares in gold miner Avocet Mining fell following a mixed third quarter update in which it said that an anticipated reduction in the Inata Mineral Reserves at its Inata mine now makes expansion unlikely in the short term.

David Cather, Chief Exectutive Officer explained that the company is re-estimating the mineral reserves at its Inata mine in Burkina Faso, using current cost levels and the lower forecast metallurgical recoveries that have been estimated as a result of metallurgical testwork.

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