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Additional Information

Market:	ASX
Sector:	Gold Mining
EPIC:	AVO

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Avoca Resources Limited

Avoca Resources (ASX: AVO) is based in Perth, Western Australia, and is an ASX200 Australian mid-tier gold mining company.

AVO wholly-owned Higginsville Gold Project is operating at full production and is forecasting +190,000 ounces at A$452/oz cash operating costs (net of royalties) in FY2010.

Avoca Resources and Anatolia Minerals Development to form gold powerhouse

Thursday, September 09, 2010

The list of listed major gold producers just dwindled further with the announcement of a merger of gold companies today.

Avoca Resources (ASX: AVO) and Canadian-listed Anatolia Minerals Development (TSX: ANO) have agreed to a friendly merger. The new company to be named Alacer Gold would have a combined market capitalisation of US$2 billion.

All directors of Avoca and Anatolis are in unanimous support of the merger and recommend the proposed merger in the absence of a superior proposal.

Under the deal, each Avoca shareholder will receive 0.4453 Anatolia shares for each Avoca ordinary shares. The Anatolia consideration shares will take the form of CHESS depository interests, or CDI's which will be listed on the ASX.

Avoca last traded at A$3.34.

Pala Investments, which is the largest holder of Avoca and Anatolia shares will support the merger.

Alacer Gold would have production of 600,000 ounces of gold per annum, with combined reserves of 3.5 million ounces and gold resources of 15 million ounces.

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