Avocet reopens mine following 'illegal unrest'
16th May 2011 14:36
Avocet Mining has resumed operations at one of its mines in Burkina Faso following a labour dispute with employees. It was announced on Friday that "illegal unrest" had prompted the company to halt production at its Inata Mine as a result of a "breakdown in on-going discussions involving wage recla
Read moreAvocet closes mine due to labour dispute
13th May 2011 12:14
Avocet Mining has halted operations at its Inata mine in Burkina Faso due to what the firm called "illegal labour unrest". The gold mining company said problems began as a result of a breakdown in on-going discussions involving wage reclassifications, general salary increases and other benefits.
Read moreCLS chief exec builds up stake
10th May 2011 17:06
Richard Tice, chief executive of the property investment group CLS Holdings, has spent more than £250,000 building his stake in the group. He took 40,000 shares at just over 645p a time and now has nearly 260,000, or about 0.57% of the company. In March, CLS reported close to a fourfold increase i
Read moreCash costs to increase at Avocet
5th May 2011 15:50
Gold miner Avocet Mining lost some of its lustre after it warned of mounting cash costs for the rest of this year. Total gold production in the first three months of 2011 crept up to 71,708 ounces from 70,857 ounces in the final quarter of 2010. Production costs rose to $678 per ounce from $641 pe
Read moreAvocet Mining Indonesian partner files lawsuit
4th Apr 2011 10:26
An Indonesian company claiming that Avocet Mining agreed to sell it its southeast Asian assets has filed a lawsuit against the gold miner for proposing to sell the assets to another company. PT Lebong Tandai, Avocet's partner in the country, said that Avocet acted unlawfully by entering into a tran
Read moreAvocet triples underlying profit before tax
22nd Feb 2011 13:11
Gold miner Avocet, one of the giants of AIM, more than doubled gold production in 2010. The company banged out 236,396 ounces at a cash cost of $660 an ounce, compared to production of 109,548 ounces at $639 per ounce in 2009, while the realised gold price soared past the thousand dollar mark to $1
Read moreRound-up: Avocet, E2V, Hasgrove
31st Jan 2011 12:57
Gold miner Avocet's gold production increased again in the quarter to December to 70,857oz at a cash cost of US$641 per ounce. Gold production for the year totalled 236,396 ounces at a cash cost of US$660 per ounce compared to 109,548 ounces at US$639 per ounce in the 12 months ended December 2009
Read moreLondon close: Footsie finishes above 6,000
24th Dec 2010 12:55
A late spurt by Footsie in the truncated afternoon trading session did the headline writers a favour and pushed the blue-chip index above the 6,000 level. Trading volumes were low, and corporate news was as thin as the veneer of snow still covering large parts of Britain. Struggling sportswear r
Read moreLondon open: JJB backers rally round
24th Dec 2010 08:37
Trading is every bit as quiet as might be expected on the day before Christmas, with the blue-chip index marginally easier, disappointing those hoping for a move above the 6,000 level. Struggling sportswear retailer JJB Sports has done its best to inject a bit of excitement into proceedings with de
Read moreLondon pre-open: Stocks little changed
24th Dec 2010 07:36
London looks set for a quiet half-day of trading ahead of the Christmas break, with the Footsie remaining hesitant about bursting through the 6,000 barrier. City traders expect the blue-chip index to open up a couple of points from last night's close of 5,996. Trading at JJB Sports has remained tou
Read moreAvocet sells Asian mines for $200m
24th Dec 2010 07:12
Avocet Mining has signed a binding agreement for the conditional sale of its South East Asian assets to J&Partners, a private Cayman Islands company, for $200m cash. The assets to be sold include the Penjom mine in Malaysia; the North Lanut mine and Bakan project in North Sulawesi, Indonesia; and
Read moreLondon close: Footsie boosted by US jobs
5th Nov 2010 16:52
Footsie rallied in the afternoon session on the back of better than expected US monthly jobs numbers to register its highest close since June 2008. Non-farm payrolls climbed by 151,000 in October, in spite of an 8,000 reduction in government payrolls, as private employers embarked on a recruiting s
Read moreLondon afternoon: Blue chips perk up
5th Nov 2010 15:00
Footsie has rallied as the afternoon session has progressed with miners making good gains on the back of better than expected US monthly jobs numbers. Vedanta is now the best performer, with silver miner Fresnillo, ENRC and Antofagasta all making good gains. Part-nationalised bank Royal Bank of S
Read moreAvocet 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
Read moreSunday press tips: Avocet, FirstGroup, Sage, perpetual bonds
3rd Oct 2010 14:15
Gold is an essential part of any portfolio, suggests the Sunday Telegraph's Questor, but the best time to buy the metal itself is when the price has dipped, which is clearly not the case at the moment. In Questor's view the best way to play gold at the moment is to buy gold companies that are inc
Read more