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BRIEF-Avocet Mining says in negotiations Macquarie on restructuring of group finances
March 7, 2013 / 7:16 AM / 5 years ago

BRIEF-Avocet Mining says in negotiations Macquarie on restructuring of group finances

LONDON, March 7 (Reuters) - Avocet Mining PLC : * 2012 gold production from continuing operations of 135,189 ounces versus

166,744 ounces a year earlier * 2012 profit before tax and exceptional items from continuing operations $18.3

million versus $40.3 million a year ago * Says discussions ongoing with macquarie and other financiers on the

restructuring of group finances * Says group mineral resource expanded with a total of 8.7 million ounces

across three main projects in 2012 * Says in negotiations with macquarie to restructure hedge and debt positions

to reflect shorter mine life * Restrictions by macquarie on surplus smb unit cash mean that co is unable to

access cash from smb unit * At 31 December 2012 co had $8 million of funds outside smb unit without some

funds being transferred from smb * Source Text :

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