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BUZZ-Avocet Mining: gains 19 pct as loan eases funding concerns

Reuters - UK Focus

** Avocet Mining Plc (LSE: AVM.L - news) 's shares rise as much as 19 pct after a $1.5 mln loan provides some relief to the gold miner that cut its production forecast twice last year

** Stock briefly top percentage gainer on the LSE, rising sharply for the second consecutive day

** The funds from an affiliate of Elliott Management, its largest shareholder with a 27.7 pct stake, will allow the co to meet its corporate requirements for about three months, while it searches for longer term funding options

** Avocet, battered by low gold prices, adds that limited operations have resumed at its Inata process plant in Burkina Faso, following a crippling labour strike at the mine in December