Avocet shines after output hike

5th Nov 2010 14:42

Shares in Avocet Mining jumped after it reported sharply higher gold production at its African and Asian mines in the third quarter.Total production of the yellow metal rose by 28% to 67,792 ounces, from 52,870 ounces in the previous quarter.Production from the Inata miner in Burkina Faso was up by 30% to 40,461 ounces, while production in South East Asia, where it has mines in Malaysia and Indonesia, was up by 26% to 27,331 ounces.'The last quarter saw Avocet grow gold production and lower cash costs at each of our operations,' said chief executive Brett Richards. 'West Africa is the engine room of our growth and we remain very encouraged not only by the performance of the Inata plant, but also by the potential for our accelerated exploration campaign across West Africa.'