Avocet Mining
Avocet Mining PLC is a London-listed West African gold producer operating the Inata mine in Burkina Faso and developing the Tri-K project in Guinea, selling gold into global commodity markets from a single-commodity, single-asset base.
- Company typePublic
- Founded1995
- HeadquartersLondon, United Kingdom
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What Avocet Mining does
Avocet Mining PLC is a West Africa-focused gold mining and exploration company incorporated in England and dual-listed on the London Stock Exchange (AVM) and the Oslo Børs, with its headquarters in London and operational offices in Ouagadougou, Burkina Faso. The company produces gold exclusively from open-pit operations using heap leach processing technology, and its primary asset is the Inata gold mine in northern Burkina Faso (90%-owned via Société des Mines de Bélahouro SA), which produced 74,755 ounces in 2015 at a cash cost of US$1,058 per ounce under a mine licence that extends to 2027. The development pipeline includes the Tri-K gold project in Guinea (3.0 million ounce Mineral Resource, 480,000 ounce maiden ore reserve, mining permit awarded March 2015), the Souma exploration project near Inata, and approximately 1,600 km² of exploration tenure in the Bélahougou district, all situated in the Birimian greenstone belt.
The business model is a single-commodity producer selling gold into global commodity markets through direct shipment to refiners, with revenue fully determined by London spot gold pricing and Inata production volume. The company has no pricing leverage, no diversified product lines, and a single producing asset, with Tri-K not yet in production. Go-to-market is via physical gold sales; investor communications are conducted through RNS announcements, annual reports, webcasts, and the corporate website. Revenue concentration is therefore low in customer-count terms but high in single-commodity and single-asset terms.
The company's recent history shows a strategic narrowing to West Africa (divestment of South East Asian assets for US$200 million in December 2010) and an attempt to advance a second producing asset through the Managem joint venture over Tri-K signed in October 2016. However, operational and financial stress is visible across 2014-2017, including an illegal strike at Inata, an October 2016 gold seizure, suspension of operations, the expiry of a standstill agreement in September 2017, and ongoing SMB creditor discussions, all of which materially affect the company's near-term cash generation capacity despite the underlying resource base.
Avocet Mining firmographics
Firmographics- Name
- Avocet Mining
- Legal name
- Avocet Mining PLC
- Website
- https://avocetmining.com
- Company type
- Public
- Founded year
- 1995
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Avocet Mining PLC is a London-listed West African gold producer operating the Inata mine in Burkina Faso and developing the Tri-K project in Guinea, selling gold into global commodity markets from a single-commodity, single-asset base.
- Ownership category
- akta.pro rank
Avocet Mining industry classification
Industry- Product category
- Gold Mining
- NAICS
- Gold Ore and Silver Ore Mining (212220)
- SIC
- Gold And Silver Ores (1040)
- akta.pro primary industry
- Gold Mining (IMAKAEAA)
- akta.pro secondary industry
- Process Plant & Materials Handling EPC (Crushing, Conveying, Stockpiles, Loadout) (IMAKAOAE)
Keywords
Where Avocet Mining is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
Avocet Mining business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Supply Chain, Personnel, Infrastructure, Others
Distribution channels1 record
Marketing channels4 records
Avocet Mining product offering
Product offeringCore offering
Avocet Mining PLC is a West African-focused gold mining and exploration company that produces gold from its 90%-owned Inata mine in Burkina Faso and is developing the Tri-K project in Guinea. Its portfolio also includes the Souma exploration project near Inata. Gold produced at Inata is sold into global commodity markets, with 74,755 ounces produced in 2015 at a cash cost of US$1,058 per ounce.
Product overview
Avocet Mining is a West African gold mining and exploration company operating one producing gold mine (Inata in Burkina Faso) and developing the Tri-K project in Guinea. The company also conducts exploration through the Souma project in Burkina Faso. Operations are focused on gold production from open-pit mining within the Birimian greenstone belt.
Differentiator
Problem solved
Functional benefit
Products and services
- Inata Gold Mine
- Tri-K Gold Project
- Souma Gold Exploration Project
Quantifiable outcome
- Inata mine produced 135,000 oz (2012), 118,000 oz (2013), 86,000 oz (2014), 75,000 oz (2015)
- +1 more outcomes
Companies that use Avocet Mining
Customer profileSegments1 record
Ideal customer profiles2 records
Avocet Mining technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Avocet Mining partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and supporting.
- ManagemcoreJoint Venture with Managem over the Tri-K project in Guinea. This partnership involves co-development of the Tri-K gold project in northeast Guinea, combining Avocet's existing permits and exploration work with Managem's capabilities.
- Grant Thornton UK LLPsupportingAuditors of the company, providing independent financial audit services.
Scale indicators10 records
Recent moves12 records
Expansion highlights5 records
Avocet Mining competitors and assessment
Company assessmentBroad incumbents
- B2Gold: TSX/NYSE-listed mid-tier gold producer with multiple West African assets (Fekola in Mali, Otjikoto in Namibia) — overlapping technology (open-pit + heap/CIL) and customer base (gold offtake to refiners), but larger and more diversified than Avocet.
- Centamin: LSE/TSX-listed gold producer (operator of Sukari, Egypt); while the jurisdiction differs, it represents a directly comparable single-asset-focused mid-tier gold producer of similar scale.
Direct peers
- Hummingbird Resources: Small-cap West African gold producer operating the Yanfolila mine in Mali; closely comparable scale, jurisdiction risk profile, and single-asset dependence to Avocet.
- Resolute Mining: ASX/LSE-listed African gold producer with Syama in Mali and Mako in Senegal; similar mid-cap profile and West-African production base as Avocet.
- Endeavour Mining: LSE/TSX-listed mid-tier gold producer with multiple mines in Burkina Faso (Houndé, Ity, Mana) plus Côte d'Ivoire; operates in the same Birimian greenstone belt as Avocet and is the natural consolidator of West African gold assets.
- Perseus Mining: ASX/TSX-listed mid-tier gold producer with Edikan in Ghana and Sissingué/Yaouré in Côte d'Ivoire; operates in adjacent Birimian geology and targets similar customer markets for gold offtake.
- SEMAFO: West African-focused gold producer historically operating the Boungou mine in Burkina Faso and Mana in Burkina Faso — near-perfect operational and geographic overlap with Avocet's portfolio before its 2020 acquisition by Endeavour.
- Roxgold (now Fortuna Silver Mines): Mid-tier gold producer that operated the Yaramoko mine in Burkina Faso; same jurisdiction, similar size and cash-cost profile as Avocet's Inata operation.
- Orezone Gold Corporation: Single-asset developer/operator of the Bomboré gold project in Burkina Faso; comparable scale and stage to Avocet's pre-production Tri-K project in Guinea.
- IAMGOLD: Mid-tier gold producer operating the Essakane mine in Burkina Faso, located in the same belt as Avocet's Inata asset and facing identical country and operating-cost dynamics.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Avocet Mining social profiles
Digital presenceAvocet Mining compliance and trust
Trust signalCompliance3 records
Avocet Mining financial estimates
Financial estimateRevenue estimate
Valuation estimate
Avocet Mining leadership team
Management profileNumber of profiles
Profiles5 records
Avocet Mining subsidiaries and ownership
Company hierarchySubsidiaries4 records
Avocet Mining funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Avocet Mining M&A and investment
M&A and investmentM&A3 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Avocet Mining
What does Avocet Mining do?
Avocet Mining PLC is a West African-focused gold mining and exploration company that produces gold from its 90%-owned Inata mine in Burkina Faso and is developing the Tri-K project in Guinea. Its portfolio also includes the Souma exploration project near Inata. Gold produced at Inata is sold into global commodity markets, with 74,755 ounces produced in 2015 at a cash cost of US$1,058 per ounce.
Is Avocet Mining a public or private company?
Avocet Mining is a public company. It is classified as public and is currently operating.
When was Avocet Mining founded?
Avocet Mining was founded in 1995. It employs 1 to 10 people.
Where is Avocet Mining based?
Avocet Mining is headquartered in London, United Kingdom, in the Europe region.
Who are Avocet Mining's main competitors?
Broad incumbents on record are B2Gold and Centamin. Direct peers are Hummingbird Resources, Resolute Mining, Endeavour Mining, Perseus Mining, SEMAFO, Roxgold (now Fortuna Silver Mines), Orezone Gold Corporation and IAMGOLD.
Does Avocet Mining have an API?
No public API is recorded for Avocet Mining.
What industry is Avocet Mining in?
Avocet Mining's product category is Gold Mining. Its primary akta.pro industry code is IMAKAEAA, Gold Mining, with a secondary code of IMAKAOAE, Process Plant & Materials Handling EPC (Crushing, Conveying, Stockpiles, Loadout). Its NAICS code is 212220 and its SIC code is 1040.