Quarterly Activities Report for the Period Ending 30 April 2017
HIGHLIGHTS FOR QUARTER
- Portia processing plant throughput increased by 14%, resulting in record throughput for the quarter, however gold produced has decreased by 72% due to processing lower grade ore.
- Year-to-date C1 Cash Cost increased to $509 and AISC increased to $748 per ounce, mainly due to lower ounces produced, while achieving a realised gold price of $1,618.
- Kalkaroo resource upgraded to contained copper metal of 1.14 million tonnes and gold of 3.3 million ounces.
- MOU signed with a major Chinese copper producer for completion of a PFS on the upgraded Kalkaroo resource, to facilitate an investment decision.
- New copper-tungsten discovery confirmed by drilling at Croziers prospect near Kalkaroo.
- Highly encouraging indicators for breccia hosted mineralisation at Bassanio.
- Prospect Hill southern tin lode extended by 250 metres potentially expanding the current resource.
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About Havilah Resources Ltd
Havilah Resources Ltd (ASX:HAV) is a debt free South Australian gold producer having recently financed and developed its first gold mine at Portia in north-eastern South Australia. It plans to follow on with three copper-gold-cobalt mining developments at North Portia, Kalkaroo and Mutooroo, which are underpinned by a JORC resources mineral inventory of over 1.4 million tonnes of copper, 3.6 million ounces of gold, and 18,000 tonnes of cobalt.
Havilah Resources Ltd