Avocet Mining plc Announces Production Results for the Fourth Quarter and Full Year 2014; Provides Production Guidance for the Year 2015
For the full year, gold production was 86,037 ounces against 118,443 ounces a year ago, lower than guidance of approximately 95,000 ounces primarily as a result of a strike in early December.
The company currently anticipates that gold production in 2015 will be approximately in line with 2014 and that Inata's life of mine is likely to be 2-3 years. This does not include the upside from Souma which has a resource of 800,000 ounces and is expected to provide ore feed to Inata for one or more years, depending on drilling and metallurgical testwork planned for the coming months.