Avocet commences gold production at N. Sulawesi mine

London-based gold mining Avocet Mining plc announced Thursday it had commenced gold production at its North Lanut mine in North Sulawesi.

?The mine?s first gold pour was celebrated during an opening ceremony attended by local, regional and central government representatives on 7th October,? Avocet said.

Avocet said annual production is expected to average in excess of 50,000 ounces over the current five year mine life for the Riska deposit. ?This is the first significant gold mine to be developed in Indonesia in six years,? Avocet said.

Avocet added exploration activities were continuing to increase the resource base at North Lanut.

"Other known prospects on the CoW are also being evaluated, including the Bakan deposit which has the potential to host another mine," the company said.

Avocet is a mining company listed on the London Stock Exchange. In 2002, the company purchased an 80 percent interest in exploration property in North Sulawesi from Newmont Mining Corporation. (robert)