New Thread as requested by Wirral Owl.

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Ash

Avocet Mining PLC
20 June 2006

Avocet Mining PLC

20 June 2006

MORE POSITIVE DRILL RESULTS CONFIRM RESOURCE POTENTIAL

AT OSELA IN THE BAKAN DISTRICT, INDONESIA

Avocet Mining PLC ('Avocet' or 'the Company'), the Central and South East Asian
gold production and exploration company, is pleased to announce continued
exploration success from first-phase resource-definition drilling at Osela. This
is the second advanced prospect in the Bakan District in the Company's 80% owned
Mongondow Contract of Work ('CoW'), the other being the Durian prospect. The
Bakan District is approximately 25km west of the Company's North Lanut mining
operation and is the main new initiative in the CoW.

The results of drilling in the Bakan District have the potential to add over
500,000 ounces of gold to the Company's resource base, which is above the
initial expectations announced by of the Company last year. Additionally, the
Bakan District has the potential for a significantly larger resource than this
being discovered on account of additional mineralisation already identified in
the Camp and Main Ridge areas (see press release of 11 July 2005).

Avocet reported significant intercepts from resource drilling at Durian on 29
March 2006 as a follow-up to the results of scout drilling reported on 11 July
and 16 November 2005. More recently, the Company has completed a 35-hole (3,400
metres) resource-definition diamond drilling programme at Osela, approximately
2,000 metres northeast of Durian. This programme, drilled on 50-metre centres,
has confirmed oxidised, high-sulphidation epithermal mineralisation over a
strike length of 1,000 metres. The zone consists of high-grade mineralisation at
North Osela, which is developed over a minimum strike length of 400 metres,
width of 25-100 metres and depth of up to 100 metres from surface. South Osela
is lower-grade, but includes a near-surface, supergene gold zone covering an
area of 300m by 100m with a thickness of 6-20 metres. Drilling in the area
between the North and South zones has intersected a silica-alunite alteration,
suggesting that the two are co-joined, though a slower than anticipated
laboratory turnaround has delayed processing of drill core samples from this
link zone.

The drilling results discovered significant intercepts from the majority of the
Osela drilling programme (Table 1). These include 41m @ 2.31 g/t Au (incl. 4m @
9.24 g/t Au), 54m at 2.58 g/t Au (incl. 4m @ 21.2 g/t Au), 50m at 2.79 g/t Au,
56m at 2.13 g/t Au, 54m @ 2.58 g/t Au (incl. 4m @ 28.7 g/t Au) and 30m @ 3.16
g/t Au (incl. 12m @ 6.01 g/t Au).

The style of mineralisation at Osela is similar to that at Durian and the
Company's Riska deposit, currently being mined at North Lanut. The high grade
intercepts at North Osela are associated with a near surface
halloysite-kaolinite alteration (after alunite) and chalcedonic silica-sulphide
at depth. The former is due to supergene enrichment while the latter is hypogene
mineralisation in the form of veins and replacement alteration. Gold
mineralisation in both North and South Osela are broadly distributed in NNE-SSW
to NE-SW trending structures. The occurrence of near-surface ore zones in both
North and South Osela will have a positive impact on the economics of the
potential resources. Osela, like the Durian deposit, is situated on a ridge,
which further minimises the potential waste to ore stripping ratios.

Metallurgical test work is underway to confirm preliminary results that show the
ore is amenable to the low cost dump leaching process employed at North Lanut.
Drilling rigs are currently collecting additional sample for comprehensive
metallurgical test work, including coarse particle column leach tests, and will
commence infill reserve drilling shortly.

Formal grade modelling is underway with the conversion of the resource to the
indicated and inferred category during July 2006, followed by feasibility work
to construct a new mine expected to commence production by 2008.

All references to resources and exploration results have been approved for
release by Mr Peter Flindell, BSc (Hons) MAusIMM, Chief Geologist for Avocet,
who has more than 20 years experience in the field of activity concerned and is
a Competent Person as defined by the JORC Code (2004). He has consented to the
inclusion of the material in the form and context in which it appears.

John Catchpole, Chief Executive Officer, commented:

'These drill results from Osela, combined with those from Durian that we
announced in March, indicate that the oxidised portion of the orebody may be
more extensive than we had first thought from the initial phase of drilling. We
remain confident that the Bakan District has the potential to host at least
500,000 ounces and possibly much more.'

. see link below

Final results

Keep this on your watchlist :-)

more great news today on both fronts.

cant understand why no-one chats on this......its a great nest egg

almost on CGT on this alone....and thats without SCTN

New article, click HERE

Bottom wedge breakout imminent looks that way......



Fundies good aswell........

Avocet Mining PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Arbuthnot Securities
07-05-09 BUY 16.19 7.73 11.28 4.36

Evolution Securities Ltd
01-05-09 ADD 12.23 6.01 20.79 11.38

Investec Securities
09-03-09 HOLD 27.61 14.54 21.96 11.38

2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS
(p) DPS (p)

Consensus 14.34 6.93 21.26 11.38
1 Month Change -0.02 0.00 -0.01 0.00
3 Month Change 1.32 0.62 -0.05 0.00


GROWTH
2008 (A) 2009 (E) 2010 (E)
Norm. EPS -51.12% 58.59% 64.21%
DPS % % %

INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)

EBITDA 26.42m 21.90m 27.78m

EBIT 19.64m 14.08m 9.98m

Dividend Yield % % %

Dividend Cover x x x

PER 17.45x 11.00x 6.70x

PEG -0.34f 0.19f 0.10f

Net Asset Value PS 51.79p p p

Avocet Mining upgraded to BUY from hold at Investec, target price raised to 91p from 71p.

MoneyAM
27/4/09

Broker has upgraded its valuation to include Avocets planned acquisition of Oslo-listed Wega and higher gold price assumptions of $900/oz for 2009.

Taken a small punt on this, thought for a long time that this is undervalued.

Very red on trades at the mo, not encouraging one to buy.

Just keeps banging on that 80p barrier every time...if only this could break that then the sp could fly !, probably needs gold to climb up to $930 an ounce.

or perhaps produce more gold ... will wega do the trick ... I am giving it a run.

Hoping i get a short term term move within the sideways trend here and also a breakout from 90p.

Fingers crossed.

A new broker note out,

out late yesterday and is a reiteration.....

Avocet Mining PLC

FORECASTS
2010 2011

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Arbuthnot Securities [R]
16-09-09 BUY 11.27 4.44 17.47 7.69

company look good for traders that like gold shares. have a read let me no wt you think

http://www.minesite.com/fileadmin/content/pdfs/Brokers_Notes_August_09/Brokers_Notes_Sept_09/Brokers_Notes_Oct_09/AVM%2028-10-2009.pdf

micky .... not sure what i think in all honesty ..... my initial thought, sight unseen, was that this was some silly little tinpot E&P company .... however, i see that it is actually a modest though profitable producer with some money in the bank .... on the other hand, the share doesn't move a lot, notwithstanding the current level of gold ..... further, institutional holdings are quite modest, but trading volumes are quite good and the spread modest .... for sure you could do worse, but equally surely, there must be better bets - e.g. CEY

Thank you cynic as always your point's of views are all ways welcome and well put , and yes your right about CEY it's a great company, And I've been keeping an eye on it , from 70p ..........wish i had paid attention to you then when you told to buy........lol ;-) have a good week-end .........CEY = 122p where do you see this short to mid term ? also not holding to well with gold dropping !!

Rated by Shares as one of the 2 best gold plays (POG is the other)
Any comments?

Could be about to rise 20p or so....the graph is shaping that way....

i'ld rather have POG (and CEY)