Havilah Resources NL
Havilah Resources NL
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South Australian miner Havilah has stepped up to 7-day operations after contractor Consolidated Mining & Civil added a third operating crew at the Portia gold mine near Broken Hill and lifted material moved during July by 37% to 549,000cu m.
The mining fleets, comprising Hitachi EX2500 250t excavators and 100t dump trucks, are removing overburden while assembly of the gold processing plant heads for commissioning in early 2016.
Havilah has executed a $A6M loan and risk management facility mandate letter with a major international resource bank for its planned 67,000oz Portia gold mine NW of Broken Hill in South Australia. Financial close is expected in about 6 weeks.
It says the loan facility will provide stand‐by funding for the project while the risk management facility will enable it to hedge 10,000oz of gold production from Portia to improve its certainty of cash-flow.
Havilah Resources is looking to bring its 620,500t copper/2Moz gold measured/indicated resource Kalkaroo project near Broken Hill in South Australia on stream in mid-2016.
Copper-gold production from the Kalkaroo project in S Australia targeted for mid-2016
Havilah Resources has advised the South Australian Dept for State Development (DSD) of its intention to begin mining at its Portia Gold Mine, NW of Broken Hill, after lodging an unconditional bank guarantee to cover the $A1.95M mining rehabilitation bond.
Havilah Resources and contractor Consolidated Mining & Civil (CMC) have done a shared risk/shared revenue deal to bring the 67,000oz Portia Gold Mine, NW of Broken Hill in South Australia, into production by mid-2016.
A new shared risk/revenue deal is targeting production from South Australia’s Portia Gold Mine by the middle of next year
Havilah agreed to pay $A2.1M to acquire the 53,000ha Kalkaroo pastoral station in NE South Australia as a central base for regional projects, particularly the Kalkaroo copper-gold project.
The acquisition, which could be largely financed from working capital, would remove risks of delays or refusal of land access and reduce operating costs. Measured-indicated resources are 622,500t contained copper metal and about 2Moz gold.
Havilah submitted a revised mining lease proposal as it prepares for a pilot plant operation starting in May at the proposed 2Mtpa iron ore project in NE South Australia.
The company is continuing negotiations on a draft native title mining agreement – a necessary condition for the grant of the mining lease.
Havilah Resources is targeting pilot-scale metallurgical testwork to begin next month as it awaits state government approval of a revised mining lease proposal for its Maldorky iron ore project in South Australia.