Avocet Mining plc reported unaudited consolidated earnings results for the six months ended June 30, 2015. For the period, revenue was $47.809 million against $59.353 million a year ago. Loss from operations was $38.831 million against $42.114 million a year ago. Loss before taxation was $37.660 million against $46.002 million a year ago. Loss for the period attributable to equity shareholders of the parent company was $30.119 million or 14.38 cents per diluted share against $52.758 million or 26.50 cents per diluted share a year ago. EBITDA was $2.912 million against $2.921 million a year ago. Net cash generated by operating activities was $6.736 million against $0.807 million a year ago. Payments for property, plant and equipment was $2.663 million against $6.868 million a year ago.

Gold production at Inata in 2015 is now expected to be lower than previous guidance, at 75 ounces to 80,000 ounces. Combined with lower production, the weakening gold price poses an increasing threat to Inata's cash generation and its efforts to reduce the mine's creditor balance and maintain its life of mine. However, management remains focused on these areas. In Guinea, efforts are focused on optimising the design and economics of the Tri-K project, in order to secure financing to commence development as soon as possible.