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Avocet Mining gets mining licence for Tri-K gold project in Guinea

Reuters - UK Focus

April 2 (Reuters) - Avocet Mining Plc (LSE: AVM.L - news) said its subsidiary has been granted a mining licence for a gold project in north east Guinea.

Avocet is in talks to secure financing and expects to start construction on the Tri-K project in 2016, the company said in a statement.

The miner, whose main asset is the Inata gold mine in Burkina Faso, has been struggling with funding concerns and strikes at Inata.

Avocet missed its own production expectations for 2014, producing 86,037 ounces for the year, lower than the 95,000 ounces it had forecast. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Anupama Dwivedi)