Gold miner Avocet Mining, which has been plagued by a shortage of cash and feeble production, on Friday said its board has proposed voluntary liquidation and that remaining cash should be used to pay creditors. The company had warned in October that it could be broken up as it continued talks with its largest shareholder, Elliott Management, to restructure its debt. In June, it said it would sell its interests in a mine in Guinea to restructure loans.
