UK 23:25 Monday, 2 November 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
With gold production being resumed at Inata in Burkino Faso after an illegal strike costing nearly $12 million (£8 million), accident-prone West African play Avocet Mining (AVM) is also evaluating its other prospects, at Souma, 20km from Inata, and the Tri-K project in north-eastern Guinea. Partly because of the strike, the fully-listed company, whose shares have plunged from more than £2 five years ago to a mere 5.6p now, saw gold production from Inata slip from 118,443 oz. to only 86,037 oz. last year, well below a forecast 95,000 oz., at an average cash cost, before financing, of $1,187 an ounce, uncomfortably close to a current gold price of around $1,241.
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