Avnel Gold Mining Limited Announces Strategic Review
London, UK - September 17, 2007 - Avnel Gold Mining Limited (TSX: AVK) ("Avnel") announced today that it is engaged in a process to consider a range of strategic alternatives to further enhance shareholder value. These alternatives may include, but are not limited to, increasing the value from the Kalana Gold Mine and the greater pursuit of Avnel's exploration strategy together with other possible diverse strategic opportunities. In undertaking this process, Avnel wishes to note that there is no assurance that the examination of strategic alternatives will result in any options that are superior to the execution of its current business plan.
Avnel has retained Standard Bank plc of London as its exclusive financial advisor to assist it in these efforts.
Avnel's principal asset is an 80% interest in Soci�t� d'Exploitation des Mines d'Or de Kalana (SOMIKA). SOMIKA is the holder of a 30 year exploitation permit encompassing 387.4 square kilometres around the operating Kalana gold mine in southern Mali. Avnel also holds the Fougadian Exploration Permit covering an area of 150 square kilometres which lies to the south of the 30 year exploitation permit.
Avnel is a gold mining producing company operating the Kalana mine owned by SOMIKA and is engaged in the exploration of the Kalana Permit and the Fougadian Permit.
ON BEHALF OF
AVNEL GOLD MINING LTD.
Roy Meade
Chief Executive Officer
For further information:
Roy Meade
Chief Executive Officer
Avnel Gold Mining Ltd.
UK Representative Office
39 Cheval Place
London, SW7 1EW
Phone : +44 207 589 9082
FAX : +44 207 589 8507
www.avnelgold.com
rmeade@avnelgold.com
RENMARK FINANCIAL COMMUNICATIONS INC.
BARRY MIRE : BMIRE@RENMARKFINANCIAL.COM
MAURICE DAGENAIS : MDAGENAIS@RENMARKFINANCIAL.COM
TEL. : (514) 939-3989
FAX : (514) 939-3717
WWW.RENMARKFINANCIAL.COM
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Avnel Gold Mining Ltd.
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EXPLORATION STAGE |
CODE : AVK.TO |
ISIN : GB00B09Y5410 |
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Avnel Gold Mining is a gold producing company based in United kingdom. Its main exploration properties are KALANA GOLD MINE and FOUGADIAN PERMIT in Mali. Avnel Gold Mining is listed in Canada. Its market capitalisation is CA$ 162.1 millions as of today (US$ 133.0 millions, € 111.4 millions). Its stock quote reached its highest recent level on December 13, 2006 at CA$ 1.25, and its lowest recent point on December 19, 2008 at CA$ 0.02. Avnel Gold Mining has 376 989 984 shares outstanding. |