New Thread as requested by Wirral Owl.

6 Months Chart:-



10 Day Chart:-



Cheers

Ash

Well Evil is more Bullish on Gold than he as ever been. Says the low POG price is a great opportunity to buy. Hes still looking at POG at $750 long term.
Feels dollar will weaken even further. When POG gos up he feels it will really take off.

GF.

good news goldfinger. and if this is correct then the current drops have been none other than atechnical corrections. yesterday gold rose be some $4.5 but as and avm followed in sympaty rising soem 3.5%. as i write, however, gold is down by over $5.

i would have thought as war gets closer the rush for gold wil intensify and stock sell off. the opposite appears to have happened. mind the usa market has another 3.5 hours to run during which anything may happen.

have just found out that a massive seller has just been cleaned out and that the shares have gone to a very good home , that must be one of the main reasons for depressing the share price past couple of weeks ,should be bullish from now , price ticked up after sales .

Yes BUD its good to see it ticking back up to 35p. There is speculation that the deal was a matched trade and that the buyer is indeed another Gold miner.

Do you feel that we could be on for a merger or a takeover?.
GF

avm,

the stage has been set for better things to come!

up today by over 10%. the dojji candlestick of yesterday status as a patteren reversal has been confirmed.

macd has touched zero on its way up. importantly, there has been a divergence between the histogram and the price action of late. the histo rose as the price went down. and the same histogram has plotted a bullish w.

sotchs and rsi are not particularly busslis as they stand at about mid range and pointing near flat.

all moving averages are heading up. 9 day sma has crossed over 18 day sma.

there has been a danger of head and shoulders developing but this has now gone. instead there appears to be the development of a rising trend. i say appear to be as it is early in the day to confirm whether this trend is going to develop or not. the situation will become clearer by the end of this week.

in the event that this trend is confirmed then the next target for this stock would be around the 40+ mark, depending on the true morphology of the trend.

last but not least, pog is up again.

Fingers crossed Arch.

GF.

.

Hammer Bottom/Dragonfly Doji on Friday:-

Nows the time to be back in Gold stocks. POG at 7 week high last night. Analysts around the world predicting gold will see new highs.

AVM the perfect play on POG at its low price of 26p. Now time to get in at these low levels.G

i`m in already and very disappointed so far, perhaps it will go now.

"i`m in already and very disappointed so far"

GOOD, I hope you are really pieved, preferably really pissed off!

However until it breaks 26.50p you are completely stuffed IMHO

lolol!(;-)0

`Mr.Ashley James posting at 4.54 am , totally bombed,
what a weird bloke.

Hello Ashley. It is Saturday night [edited] I thought I would try to re-establish friendly relations.

How is it going with you? What are your bright ideas? I see Redstone is on the up and TIG too.

I have gone a bundle on the gold shares viz. AVM HIF HEV HPD REI DROOY AU MDG and HMY. Any thoughts? There seems to be quite a buzz around HIF. Sold out my POG for a goodish (well reasonable) profit.

Good old CER, moving now, what a turn up eh?

Ps I was banned off moneyam for "HTML abuse" apparently but have been reinstated after eating some humble pie and promising to be good, which indeed I will be.

Yours etc

Pat.

Patrick,

How are you, good to see you here!

Andy. (ahkeen on ADVFN)

BTW what did you do to be banned form "html abuse"?

Hi Andy. Re earlier qs no richer than I was 6 months ago! I came on to this thread to see if the old Ashley magic would work again!

[deleted in the interests of niceness]

Er Andy it's alarmingly simple. You put a particular HTML tag inside the "carrots" <> if that shows. All subsequent text appears at the top of the thread (at least on ADVFN & moneyam).

Patrick,

Ok I didn't know that!

Ashley is not too active on here at present, at least in comparison to ADVFN, but this BB is still developing, and currently lacks volume of discussion threads.

I have noticed an increase in discussion and posters here in the last couple of weeks, and ADVFN posters are gradually coming over here.

Resource threads are rare at the moment, but I guess they too will start up once there is a greater volume of posters.

Andy.

Well golds going up but this one hasnt started yet. A few more days with the Dow in the doldrums will get it moving.G

Avocet bags Tajik gold bargain

By: Ken Gooding

Mineweb 1997-2003


LONDON – The International Finance Corporation (IFC), the World Bank’s commercial lending arm, has accepted a modest $400,000 from AIM listed Avocet Mining (LSE:AVM) in exchange for 5 percent of Zeravshan Gold Company (ZGC) in Tajikistan, as well as $10.7m of loans made to ZGC.
Avocet acquired its first 44 percent of ZGC from Nelson Resources, a Canadian company that spent about US$40m on the mining complex since 1994. Production started two years later and since then the mine has produced 500,000 ounces of gold from an open pit at the Jilau deposit. ZGC is at present producing at an annual rate of between 60,000 and 70,000 ounces.

In all, Avocet has paid the equivalent of less than $6m for control of a $40m mining operation and the associated $90m of debt. And it had to stump up less than $2m in cash.

This is all part of Avocet’s strategy to turn itself into a “pure” gold company producing about 300,000 ounces a year by 2006. The company is also making headway again towards disposal of its tungsten business – it first listed in London in 1996 with the claim it was the world’s biggest producer of tungsten.

Avocet now owns 49 percent of ZGC as well as all the Tajik gold miner’s external debt of over $90m. It also has the right to 90 percent of ZGC’s cash flow and management control. Avocet has started negotiations with the Tajik government, which owns the rest of ZGC, in the hope of restructuring the debt. Jonathan Henry, Avocet’s finance director, says he hopes the restructuring will raise his company’s holding in ZGC to 75 percent and perhaps also give Avocet some tax holidays.

Nelson accepted $1.45m cash and 14m Avocet shares in exchange for its stake and share of the debt in ZGC. That gives it 17.6 percent of Avocet, valued today at 3.5m – but Nelson has undertaken not to dispose of any of the shares until November this year at the earliest.

So why are the IFC and Nelson wanting to quit? The main reason is that Jilau is a high cost operation with cash costs of $285/oz. As Henry says, it is cash-flow break even on the mining side but money has to be spent on capital projects and exploration. Avocet can cope with this as it is generating plenty of cash from its Penjom gold mine in Malaysia where cash costs are about $200/oz and output is over 100,000oz a year.

Avocet reckons it can increase ZGC’s annual output to about 100,000oz and cut costs, perhaps by introducing a heap leach operation. And, looking further forward, ZGC also has the rights over 3,000 sq. kms in the region surrounding Jilau where past Soviet exploration identified numerous gold deposits containing more than 8m ounces, including two partly developed underground mines. Between 2m and 3m ounces in the measured, indicated and inferred categories have been identified in these underground mines but the ore has very difficult and complex metallurgy. Avocet is considering trying a biox pilot plant to treat the ore.

Henry says Avocet is confident of meeting the 300,000oz a year target it has set itself as the company expects, from the middle of next year, to be producing another 50,000 to 60,000oz from the North Lanut project in North Sulawesi, Indonesia, at cash costs of $150/oz. North Lanut was acquired from Newmont and Avocet suggests it could be brought into operation at a cost of $10m with an initial mine life of five to six years.

Avocet, which nearly went bust in 2001 because of production problems at the Penjom mine and low tungsten prices, is quite capable of financing North Lanut itself but is now in the fortunate position of being able to pick and choose the method of funding, Henry insists. The options include raising more equity to strengthen the balance sheet but any paper transaction is ruled out at present because the directors feel Avocet’s shares are undervalued at 25.25p today. The price has been down to 12p in the past 12 months but also they have traded at 43.5p.

Avocet is confident of finding more mineable gold on the 40 sq mile North Lanut concession area but for the time being is concentrating on getting the initial output flowing.

More importantly, for investors, the company is also confident that it can find more gold to extend the present life of its cash generating Penjom mine from the present four to five years.

Meanwhile, getting rid of the tungsten operations is proving to be more difficult than Avocet first hoped. Some operations have been disposed of but Avocet is left with the Panasqueira tungsten mine in Portugal, owned by Avocet's wholly owned Portuguese subsidiary, Beralt Tin & Wolfram, and a 10.6 percent interest in the Lermontov mine, located in the Russian Far East.

Avocet hoped to sell these to Salish Ventures, a Canadian company, in exchange for shares representing less than 50 percent of Salish and with the intention of eventually cutting the holding below 20 percent. This deal fell apart and. instead, Avocet has ended up with about 75 percent of Salish and has had to continue to provide management for the tungsten business as well as providing US$275,000 of cash.

Henry says his company decided to push ahead with the revised Salish deal because “it is easier to divest a listed entity.” Salish is listed on the Toronto Venture Exchange and is changing its name to Primary Metals Inc. He says there might be someone willing to do a deal because Beralt, although loss-making at present, holds a key position in the tungsten market. “And we are talking to a number of interested parties.G

Record Production Figures From Principle Mine.

Avocet Mining PLC
09 May 200


FOURTH QUARTER GOLD PRODUCTION


Avocet Mining is pleased to announce fourth quarter gold production of 46,240
ounces, bringing the total for the financial year ended 31 March, 2003 to
134,581 ounces.


Gold production from Penjom in Malaysia amounted to 30,560 ounces for the fourth
quarter bringing Penjom's total production for the financial year to a new
annual record of 108,905 ounces. Total cash costs at Penjom are estimated to be
US$190/oz for the fourth quarter and US$204/oz for the financial year (2002:
US$239/oz and US$225/oz respectively).



Production from Zeravshan Gold Company (ZGC) in Tajikistan for the fourth
quarter was 15,680 ounces, bringing total production for the five months since
acquisition to 25,675 ounces. Total cash costs at ZGC are estimated to be US$278
/oz for the fourth quarter and US$284/oz for the five months since acquisition.



Avocet is a mining company listed on the Alternative Investment Market (AIM) of
the London Stock Exchange. The company's principal activities are gold mining
and exploration in Malaysia (as owner of the Penjom mine, the country's largest
gold producer), Tajikistan (as 49% owner and operator of the Zeravshan Gold
Company, Tajikistan's principal gold mine), and Indonesia (where it has an
advanced stage gold exploration property in North Sulawesi, currently at the
feasibility stage).









__________________________________________________________________________________________________

For further information please contact:

Avocet Mining PLC 4C Communications Ltd

John Catchpole (Chief Executive) Carina Corbett

Jonathan Henry (Finance Director) 020 8949 7171

020 7907 9000 020 7907 4761


www.avocet.co.uk
--------------------------


This information is provided by RNS

Buys flying in on this one and price already up 7%.

Dont miss the boat.G