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Avocet completes first closing on Tri-K project

22nd May 2017

By: Anine Kilian

Contributing Editor Online

     

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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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