Avocet Mining PLC announced that it has entered into a conditional Joint Venture agreement regarding its gold project in Guinea, known as Tri-K, with a subsidiary of Managem SA. Managem has agreed conditionally to acquire an initial minority interest in the Tri-K project which will increase to a majority interest of up to 70%, on completion of an agreed work programme and subject to meeting certain milestones. Managem has committed conditionally to a total investment of at least USD 14.0 million, consisting of an initial cash payment to Avocet of USD 4 million, and a commitment to undertake a works programme costing at least USD 10 million, in order to deliver, within 24 months, a Bankable Feasibility Study for a Carbon-in-Leach operation at the site, with an Ore Reserve of at least 1 million ounces.