JOHANNESBURG (miningweekly.com) – West Africa-focused Avocet Mining completed the first closing of its Guinea-based Tri-K project.
The company received a Presidential decree this month, formalising a mining convention for the project, paving the way for a partial sale to Morocco-based Managem.
Avocet has now transferred a 40% interest in Tri-K to Managem for $4-million.
Tri-K is Avocet’s main development project, located near Kankan, Guinea's second-largest city.
It comprises several exploration permits covering 490 km2, including the Koulékoun and Kodiéran gold prospects, and a mining permit.
Tri-K has an existing reserve of 480 000 oz of gold.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
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