20th Dec 2016 07:57
LONDON (Alliance News) - Avocet Mining PLC on Tuesday said the court hearing to determine the legality of the seizure of a gold shipment from the Inata mine in Burkina Faso in October has been postponed.
Avocet had a gold shipment containing around 1,400 ounces seized by bailiffs on October 7, under a legal claim made by ex-workers of Societe des Mines de Belahouro (SMB), the owner of the Inata mine, which Avocet operates.
Avocet has since been battling to have the gold returned, but a hearing scheduled to take place in Ouagadougou on Monday to determine the legality of the seizure has been postponed for at least two weeks.
Avocet said it remains hopeful a settlement will be reached with the ex-employees which will allow for the gold to be released.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
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