Avocet Mining Plc confirmed Friday that it completed the sale of Resolute to the Balaji group for USD 5 million.

The transaction involves the assignment of certain intercompany receivables for cash consideration of USD 2.5 million, to be paid at completion, and for a consideration of USD 2.5 million to be satisfied by deferred payments over a period of seven years.

The completion of the USD 5.0 million sale of its Burkino Faso assets, including the Inata gold mine, was originally slated for Jan. 11 but the sale had been delayed three times, most recently until 8 February 2018, at the request of Balaji Group, citing pending discussions with a creditor of resolute.

At 9:07am: (LON:AVM) Avocet Mining PLC share price was +0.03p at 16.8p