27th Jan 2016 10:21
LONDON (Alliance News) - Avocet Mining PLC on Wednesday said its gold production dipped at the Inata mine in Burkina Faso in West Africa in the fourth quarter, but cash costs of that production also were reduced.
Avocet said its gold production in the fourth quarter from Inata was 17,380 ounces, down from 17,517 ounces a year earlier. For all of 2015, gold production fell to 74,755 ounces from 86,037 ounces, primarily due to supply issues caused by the attempted military coup in the country in September.
Cash costs of production were reduced to USD1,094 from USD1,107 per ounce in the fourth quarter and to USD1,058 for the full year from USD1,186 a year earlier.
Avocet shares were up 6.7% to 2.4 pence Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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