Avocet Mining first-quarter gold output falls 24 pct

Thu May 8, 2014 2:38am EDT

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May 8 (Reuters) - Gold miner Avocet Mining Plc said total gold output in the first quarter fell 24 percent as it lost nine production days in March due to refurbishment work at its Inata mine in Burkina Faso.

The company, whose primary operations are in Burkina Faso and Guinea, said production for the quarter ended March 2014 was 23,148 ounces, down from 30,481 ounces a year earlier.

Cash costs rose to $1,178 per ounce from $1,169 per ounce a year earlier.

Avocet said it expected full-year gold production of 105,000 to 115,000 ounces at a cash cost of between $1,000 and $1,100 per ounce. (Reporting by Karen Rebelo in Bangalore; Editing by Sunil Nair)

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