Profile: Avocet Mining PLC (AVM.L)

Avocet Mining plc is a gold mining company with assets in South East Asia and West Africa. It has two operating gold mines. The Penjom goldmine, located in Malaysia, has produced over one million ounces of gold and has nearly one million ounces of resource. The North Lanut gold mine in North Sulawesi, Indonesia, was developed by Avocet from the exploration stage and has produced over 225,000 ounces since it was commissioned during the fiscal year ended March 31, 2004. In June 2009, Avocet acquired Wega Mining ASA (Wega Mining), and through this transaction, gained a 90% interest in the Inata gold project, located approximately 220 kilometers north of Ouagadougou, the capital of Burkina Faso in West Africa. Inata is under construction. The Wega Mining group holds 27 exploration licenses in Burkina Faso, Mali and Guinea. During the fiscal year ended March 31, 2009, the Penjom goldmine produced 68,902 ounces of gold and the North Lanut gold mine produced 41,017 ounces of gold.