Avocet Mining PLC (03036214): administration
- Status
- Administration ended
- Administration began
- 2019-08-21
- Administrators' firm
- Kroll
- Incorporated
- 1995-03-16
- Location
- London
- Industry
- 08990 Other mining and quarrying n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
Statutory information on the Company and a summary of its financial history is included at Appendix 1.
The Company is dual listed on the London Stock Exchange and the Oslo Stock Exchange (the Oslo Bers), and it traded under the share code AVM on both exchanges. It was originally admitted to the Official List of the London Stock Exchange in 1996 and moved its listing to Alternative Investment Market in July 2002. In December 2011, the Company was re-admitted to the official list of the London Stock Exchange, which remained as its primary listing.
The Company had historically operated in gold mining and exploration principally in South East Asia, In June 2009, the Company acquired a mining company which operated from Burkina Faso, Guinea and Mali. In the same year, management made a strategic decision to focus operations solely in the gold region of West Africa.
Administrators' statement of proposals (2019-10-15) · Companies House register