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Avocet’s takings triple in 2011
Avocet Mining said yesterday full-year profits more than tripled to $115.1m (£73.2m), boosted by gains from the sale of its South East Asian assets as the gold miner turns its focus exclusively to its West African projects. Excluding exceptional items the miner still posted a jump in 2011 profit to $56.4m from $33.4m a year previously. Core profit rose over 16 per cent to $100.3m, in line with analyst expectations.