BRIEF-Avocet Mining swings to H1 pretax loss - News

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BRIEF-Avocet Mining swings to H1 pretax loss

By: AFX | 11 Nov 2009 | 02:24 AM ET

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LONDON, Nov 11 (Reuters) - Avocet Mining PLC: * H1 pretax pre-ex profit $3.4 million versus 11.8 million * H1 pretax loss $4.5 million versus $30.9 million profit * Additional work and time delay raised inata project's capital cost by $30 million to about $200 million * Takes $8.0 million impairment related to deferred stripping at penjom mine * Has US$54 million of cash and net debt of US$40 million ((London Equities Newsroom; +44 20 7542 7717)) (For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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