![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Antares Vision Spa | AQEU:AVM | Aquis Europe | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.03 | -0.94% | 3.16 | 3.17 | 3.18 | 3.22 | 3.15 | 3.22 | 3,708 | 13:41:00 |
RNS Number:3993K Avocet Mining PLC 25 April 2003 CLARIFICATION OF APRIL 22ND NEWS RELEASE ACQUISITION OF A FURTHER 5% OF ZERAVSHAN GOLD COMPANY On April 22nd Avocet Mining PLC ("Avocet") announced the completion of the purchase of an additional 5% interest in the Zeravshan Gold Company ("ZGC") in Tajikistan from the International Finance Corporation ("IFC"). The release stated that "Avocet now controls all ZGC's external debt - in total in excess of US$90 million - and has begun negotiations with the Government of the Republic of Tajikistan with a view to restructuring this debt." The company notes that the market may have misinterpreted this statement and wishes to clarify the purchase. Avocet has, to date, purchased 49% of ZGC and loans to ZGC in excess of US$90 million from the IFC and from Nelson Resources. The ZGC debt is owed entirely to Avocet controlled companies, not to a third party nor to the Republic of Tajikistan, which owns the remaining 51% equity of ZGC. As a result of the loans owed to it by ZGC, Avocet now controls 100% of the cashflow of ZGC until such time as this debt is repaid to Avocet or restructured. Avocet has initiated negotiations with the Government of the Republic of Tajikistan in order to forgive some of this debt in exchange for certain beneficial conditions that include Avocet owning a greater equity interest in ZGC. ZGC holds an area of interest covering approximately 3,000 sq kms in northern Tajikistan where past Soviet exploration has identified over 8 million ounces of gold in a number of deposits including three deposits where ZGC conducts open pit operations and has commenced underground development. Avocet is a mining company listed on the Alternative Investment Market (AIM) of the London Stock Exchange. The company's principal activities are gold mining and exploration in Malaysia (as owner of the Penjom mine, the country's largest gold producer), Tajikistan (as 49% owner and operator of the Zeravshan Gold Company, Tajikistan's largest gold mine), and Indonesia (where it has an advanced stage gold exploration property in North Sulawesi, currently at the feasibility stage). ________________________________________________________________________________ For further information please contact: Avocet Mining PLC 4C Communications Ltd John Catchpole (Chief Executive) Carina Corbett Jonathan Henry (Finance Director) 020 8949 7171 020 7907 9000 020 7907 4761 www.avocet.co.uk This information is provided by RNS The company news service from the London Stock Exchange END FURSEEFLISDSEFL
1 Year Antares Vision Chart |
1 Month Antares Vision Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions