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Avocet boosted by gold prices
■ Gold miner Avocet Mining said yesterday that its quarterly pre-tax profit rose on higher gold prices, but lower production resulted in higher cash cost per ounce produced. Profit before tax and exceptionals from continuing operations rose to $20.8m (£12.8m) from $12.6m a year ago. Avocet, which entered the FTSE 250 Index in March, maintained its production forecast of 160,000 ounces for the year at a cash cost of $800-$850 per ounce.