June 12, 2014 / 6:40 AM / in 4 years

Avocet Mining says financing talks continue

June 12 (Reuters) - Gold miner Avocet Mining Plc said the business review it undertook in January was continuing and that it was still in talks with multiple parties about a range of financing options including the sale of its assets.

Avocet is raising funds to repay an outstanding loan due to its largest shareholder Elliott Management, as well as to ensure adequate working capital for its Inata mine in Burkina Faso this year.

The company, which mines gold in Burkina Faso and Guinea, said it had taken further steps to reduce costs and lower capital expenditure at Inata. (Reporting by Karen Rebelo in Bangalore; Editing by Gopakumar Warrier)

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