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HAVILAH RESOURCES LIMITED — Capital/Financing Update 2017
Feb 1, 2017
65038_rns_2017-02-01_3be39ceb-8f51-485b-882e-13da9184d355.pdf
Capital/Financing Update
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Havilah Resources Limited plans to sequentially develop its portfolio of gold, copper, iron, cobalt, tin and other mineral resources in South Australia. Our vision is to become a new mining force, delivering value to our shareholders, partners and the community.
171 million Ordinary Shares -- 33 million Listed Options -- 8 million Unlisted Options
ASX and Media Release: 2 February 2017
ASX Code: HAV
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----- Start of picture text ----- Sunrise over Portia Gold Mine----- End of picture text -----
PORTIA GOLD MINE REACHES 20,000 OUNCES MILESTONE
HIGHLIGHTS
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Havilah’s 10,000 ounce gold hedging facility closed out.
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Full exposure to future gold price movements from ongoing production.
Havilah Resources Limited (“Havilah” or “Company”) is pleased to report that the Portia Gold Mine has reached another key milestone with the production and sale of its first 20,000 ounces of gold (10,000 ounces attributable to Havilah). This means that Havilah has now delivered all ounces hedged through spot deferred gold sales under the Investec Risk Management Facility, which had an average gold price of A$1,618. Future gold sales from Havilah will now be exposed to gold price movements.
Havilah Managing Director, Dr Chris Giles, commented:
“We have sold our first 10,000 ounces of gold from Portia and have successfully fulfilled our contractual hedging obligations.
“It is another significant milestone in the history of Havilah and the Portia Gold Mine, as it represents the first $16 million in revenue for the Company.
“This means that ongoing future gold production from Portia is unhedged and provides us with full exposure to movements in the gold price.”
For further information visit www.havilah-resources.com.au
Contact: Dr Chris Giles, Managing Director, on (08) 8338-9292 or email: [email protected]
HAVILAH RESOURCES LIMITED
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ABN 39 077 435 520 MAIL: 31 Flemington Street, Glenside, SA 5065 Australia EMAIL: [email protected]