Avocet Mining Share Discussion Threads

[goml] 10/5/2005 19:51

My take would be we oscillate around this price for another 1 or 2 months.

[mieke] 10/5/2005 19:44

Are we finally kicking off the dismal downtrend that became established? I jolly well hope so as there was no fundamental reason I could see for it. Cheap as chips!!

[mr ashley james] 10/5/2005 16:14

Cheers Bionic only trying to please!

Is it too early for Scrumpy?

Cheers

Ash:)

[budevenwiser] 10/5/2005 12:52

i know its a couple of days old but lets hope the fellow is right , could do with xau bouncing a bit , sounds like a good guide

[bionicdog] 10/5/2005 12:20

good timimg mr james.

[bionicdog] 10/5/2005 11:59

why should i take advice from a ramping idiot i've never heard of before?
just a thought.

[mbthedude] 10/5/2005 11:17

Take a look at OVG, RNS just out re major acquistion and additional 900,000 ounces of gold reserves along with other mineral tagets. Current market cap only £5.4m will shoot up when this hits the radar.

Looks very promising imo DYOR.

[dixi] 10/5/2005 10:57

Broker Upgrades/Downgrades:

An upgrade in the shares of Avocet Mining from broker Seymour Pierce, saw shares add 0.75p to 77.25p. The London based broker changed its stance to 'buy' from hold, increasing its share price target to 108p (previously 92p) on the back of the company's production data for the latest quarter and full year to March. Seymour Pierce said that it had arrived at its valuation based on a gold in the ground valuation of 121p and a discounted cash flow valuation of 95p. The broker forecast earnings per share of 9.6 US cents per share for the current year, rising to 14.5 cents in 2006.

[mr ashley james] 10/5/2005 02:18

Breaks 80.00p tomorrow and we are hopefully away!

[taylor20] 09/5/2005 19:22

Another Evo Update:

[goml] 06/5/2005 13:00

Phillis, agreed.
They now appear committed to making ZGC work. It won't be cheap initially by anyone's measure but the rewards are there for the taking.

[phillis] 06/5/2005 12:38

Added 10k this am
Zeravshan is the key. They have failed so far so the purchase is an act of faith in their ability to nail this once and for all

[mr ashley james] 06/5/2005 12:31

Acko/Dixi,

Agreed

I think this means that AVM falling from 105p offer to 71p bid ie 32.38% yesterday is massively oversold!



"Avocet Mining announces that total gold production for the financial year ended
31 March 2005 amounted to 172,938 ounces (2004: 180,203 ounces), and included
fourth quarter production of 50,264 ounces (Q4 2004: 45,041 ounces)."

Expected 223,000 troy ounces attributable out of gross 260,000 troy ounces 2005/6 going for a paltry £78,600,000?

At least three producing Gold Mines 2 at 100,000 toz pa 1 at 60,000 toz pa?

BTW take a look at another "A" share Antrim Energy Inc AEY on AIM AEN on TSE it is even cheaper still.


All the best

Cheers

Ash:)

[mr ashley james] 06/5/2005 12:14

RNS Number:9659L
Avocet Mining PLC
06 May 2005

AVOCET MINING PLC



YEAR END AND FOURTH QUARTER GOLD PRODUCTION



CHANGES TO MANAGEMENT



Avocet Mining announces that total gold production for the financial year ended
31 March 2005 amounted to 172,938 ounces (2004: 180,203 ounces), and included
fourth quarter production of 50,264 ounces (Q4 2004: 45,041 ounces).



Gold production from Penjom in Malaysia amounted to 32,260 ounces for the fourth
quarter (Q4 2004: 30,013 ounces) bringing Penjom's total production for the
financial year to a higher than expected 119,846 ounces (2004: 124,432 ounces).
Total cash costs at Penjom are estimated to be US$203/oz for the financial year
(2004: US$192/oz).



Production from JV Zeravshan LLC (ZGC) in Tajikistan for the fourth quarter was
9,827 ounces (Q4 2004: 15,028 ounces), bringing total production for the
financial year to 44,241 ounces (2004: 55,771 ounces). Total cash costs at ZGC
are estimated to be US$439/oz for the financial year (2004: US$320/oz). The
increased unit cost and decrease in production at ZGC were primarily on account
of increased waste stripping needed for the reopening of the Jilau Main open pit
and a large proportion of production coming from low grade stockpiles. The
recent trend in costs and production will reverse as Jilau Main becomes a far
more significant source of ore over the next six months.



Now that progress has been made towards expanding existing operations, ZGC has
commenced feasibility studies for the development of two of its developed
underground projects, Taror and Chore, with the objective of adding
100,000-150,000 ounces per year of gold production within the next two years.



Gold production from the Company's new gold mine at North Lanut in Indonesia
amounted to 8,177 ounces for the fourth quarter bringing total production for
the financial year to 8,852 ounces. Total cash costs at North Lanut are
estimated to be US$500/oz for the start up period, as the gold inventory in the
dump leach pads builds up prior to the operation reaching steady state. Cash
costs are expected to reduce to below US$200/oz once the dump leach operations
build up to their full production capacity.



Full details of each operation, including updated resources and reserves, will
be announced at the time of the Company's preliminary year end audited results
due on 13 July 2005.



In the past two years, the Company has increased its operations from one gold
mine in Malaysia to three gold mines in both regions of the world where the
Company is committed to further growth. In recognition of this, the Company has
restructured its senior management. Eric Vesel, who has been with the Group for
a number of years, more recently as the general manager at Penjom in Malaysia,
has been appointed to the position of Regional Manager - South East Asia. Jay
Layman joins the Group as Regional Manager - Central Asia. Jay was formally a
senior manager with Newmont Mining Corporation in Uzbekistan, the USA and
Indonesia, and with Pegasus Gold in Kazakhstan and the USA.



Avocet is a mining company listed on the AIM market of the London Stock
Exchange. The Company's principal activities are gold mining and exploration in
Malaysia (as 100% owner of the Penjom mine, the country's largest gold
producer), Tajikistan (as 75% owner of JV Zeravshan LLC, Tajikistan's principal
gold mining company), and Indonesia (as 80% owner of the North Lanut mine in
North Sulawesi).


________________________________________________________________________________

For further information please contact:

Avocet Mining PLC


John Catchpole (Chief Executive)


Jonathan Henry (Finance Director)
020 7907 9000
www.avocet.co.uk



This information is provided by RNS
The company news service from the London Stock Exchange
END

MSCDGGDUBXGGGUU

[dixi] 06/5/2005 10:37

Added 8000 this am.

[acko2001] 06/5/2005 09:59

Bought 3000 more yesterday (good timing) and added another 5000 this morning. I think gold is ready for its next upleg but the elliott wavers have it as about to start a wave three down. I suspect that followers of EW are what is really holding gold back.

AVM historic PE of 6.45 - way too cheap

[budevenwiser] 06/5/2005 08:36

cracking figures from penjom in the fourth quarter and dont forget according to john catchpole north lanut will be producing 5000 or more ounces within a month so from june onwards avm will be producing around 55 000 ounces per qaurter ,also from john catchpole at zeravshan within 6 months we will start to see an improvement in ounces produced and within 9 months will be producing 100 000 that will bring us up to 70 000 ounces a qaurter also from the results

Now that progress has been made towards expanding existing operations, ZGC has
commenced feasibility studies for the development of two of its developed
underground projects, Taror and Chore, with the objective of adding
100,000-150,000 ounces per year of gold production within the next two years

avm are hoping to nearly quadruple production at zgc over the next 2 years , thats 50 000 more onces than has been mentioned before

well i'm willing to give avm my money for the next couple of years at least , management at avm have always achieved all they say they will do and are always concervative in what they say so could even suprise us on the upside.
i aint looking thru rose coloured specs at this company either i know short term costs are very high at zgc and north lanut but these are going to come down dramatically over the next few months , well done avm

[taylor20] 06/5/2005 08:07

Pretty much as expected, slightly higher costs at N Lanut than I had hoped, but forecast costs of $200 is impressive (achieved before the end of the year?).

For Info: Jay Layman
========================
Prior to joining Quadrem, Jay was most recently Senior Manager Strategic Planning Australia/Asia Region for Newmont based in Sumbawa, Indonesia at the Batu Hijau copper/gold mine, where in addition to strategic planning duties he was responsible for B2B efforts at their Asian mines and projects. Jay brings extensive experience as a General Manager and Project Manager in Uzbekistan, Kazakhstan and Russia with , Pegasus Gold and as a consultant to the Kazak Government. His background includes twenty years of experience in project management and business development, information systems, finance, and operations involving copper, gold, lead and zinc, in both underground and surface mines.
Jay has undergraduate degrees in Mechanical Engineering and Finance from Washington State University and a Masters in Finance from Eastern Washington University. Jay and his very patient and supportive family have lived and worked in Kazakhstan, Indonesia, and Australia over the past 10 years of his career with some short stints back in the US between assignments.

[mieke] 06/5/2005 07:20

Most re-assuring is that Penjom just keeps pouring out the goodies.
N.Lanut is building up, and will 'be a gold mine' in the next 12 months.
Tajikstan is still in the process.....

Re-assuring; Profitable; great future; fundamentally undervalued.

I do hope with the recent fall from grace a predator does not emerge.

[goml] 06/5/2005 07:14

Read them all through and I'm more than satisfied that management are focussing on the future, which is exactly what they should be doing. You can't accelerate production at any of these sites without incurring upfront costs that will distort the cost per prod oz figures. Assuming the gold bull market continues, AVM becomes a very very serious play over the next 2 years.

[mieke] 06/5/2005 07:10

06 May 2005

AVOCET MINING PLC



YEAR END AND FOURTH QUARTER GOLD PRODUCTION



CHANGES TO MANAGEMENT



Avocet Mining announces that total gold production for the financial year ended
31 March 2005 amounted to 172,938 ounces (2004: 180,203 ounces), and included
fourth quarter production of 50,264 ounces (Q4 2004: 45,041 ounces).



Gold production from Penjom in Malaysia amounted to 32,260 ounces for the fourth
quarter (Q4 2004: 30,013 ounces) bringing Penjom's total production for the
financial year to a higher than expected 119,846 ounces (2004: 124,432 ounces).
Total cash costs at Penjom are estimated to be US$203/oz for the financial year
(2004: US$192/oz).



Production from JV Zeravshan LLC (ZGC) in Tajikistan for the fourth quarter was
9,827 ounces (Q4 2004: 15,028 ounces), bringing total production for the
financial year to 44,241 ounces (2004: 55,771 ounces). Total cash costs at ZGC
are estimated to be US$439/oz for the financial year (2004: US$320/oz). The
increased unit cost and decrease in production at ZGC were primarily on account
of increased waste stripping needed for the reopening of the Jilau Main open pit
and a large proportion of production coming from low grade stockpiles. The
recent trend in costs and production will reverse as Jilau Main becomes a far
more significant source of ore over the next six months.



Now that progress has been made towards expanding existing operations, ZGC has
commenced feasibility studies for the development of two of its developed
underground projects, Taror and Chore, with the objective of adding
100,000-150,000 ounces per year of gold production within the next two years.



Gold production from the Company's new gold mine at North Lanut in Indonesia
amounted to 8,177 ounces for the fourth quarter bringing total production for
the financial year to 8,852 ounces. Total cash costs at North Lanut are
estimated to be US$500/oz for the start up period, as the gold inventory in the
dump leach pads builds up prior to the operation reaching steady state. Cash
costs are expected to reduce to below US$200/oz once the dump leach operations
build up to their full production capacity.



Full details of each operation, including updated resources and reserves, will
be announced at the time of the Company's preliminary year end audited results
due on 13 July 2005.




In the past two years, the Company has increased its operations from one gold
mine in Malaysia to three gold mines in both regions of the world where the
Company is committed to further growth. In recognition of this, the Company has
restructured its senior management. Eric Vesel, who has been with the Group for
a number of years, more recently as the general manager at Penjom in Malaysia,
has been appointed to the position of Regional Manager - South East Asia. Jay
Layman joins the Group as Regional Manager - Central Asia. Jay was formally a
senior manager with Newmont Mining Corporation in Uzbekistan, the USA and
Indonesia, and with Pegasus Gold in Kazakhstan and the USA.



Avocet is a mining company listed on the AIM market of the London Stock
Exchange. The Company's principal activities are gold mining and exploration in
Malaysia (as 100% owner of the Penjom mine, the country's largest gold
producer), Tajikistan (as 75% owner of JV Zeravshan LLC, Tajikistan's principal
gold mining company), and Indonesia (as 80% owner of the North Lanut mine in
North Sulawesi).


____________________