22 SMITH STREET, ST PETER PORT
GUERNSEY
United Kingdom,
GY1 2JQ
Phone: +44 1481 741 562
Fax: +44 1481 711 052
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Company SummaryAvnel Gold Mining Limited owns and operates the Kalana Exploitation Permit in Mali through its 80% owned Malian subsidiary, SOMIKA. Avnel completed an IPO in June 2005 and is listed on the Toronto Stock Exchange (Ticker: AVK). Avnel completed a Private Placement in November 2005 raising gross C$7.9 million.
Company NewsFriday, August 14, 2009 Avnel recorded net loss of $1,395,000 ($0.018 per share) for the three months ended June 30, 2009 compared to net loss of $2,102,000 ($0.03 per share) in the second quarter of 2008. Whilst revenue has increased by 42% in the second quarter of 2009 compared to the second quarter of 2008 due to higher gold sales volumes and prices, costs have increased by 27% due mainly to higher depreciation charges. Revenue has increased to $4,738,000 in the second quarter of 2009 from $3,330,000 in the same quarter of 2008. Gold sales of 5,085 ounces increased in the second quarter of 2009 compared to 3,679 ounces sold in the second quarter of 2008. |
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