July 5, 2011 / 12:05 PM / in 7 years

UPDATE 1-Avion Gold sees Tabakoto mine reserve at 0.9 mln oz

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July 5 (Reuters) - Canadian mining company Avion Gold Corp gave an initial gold reserve estimate of 913,100 ounces at its flagship Tabakoto mine in Mali, West Africa.

The company said it expected the reserve to support the mine for a period of five years.

Avion, which began commercial gold production in 2009, said initial development ore at its Tabakoto underground mine — in which it holds an 80 percent stake — had begun and the mine is expected to swing to full production in the first quarter of 2012.

Shares of the Toronto-based company closed at C$1.99 on Monday on the Toronto Stock Exchange. (Reporting by Maneesha Tiwari in Bangalore)

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