Following its ASX listing as a junior explorer in April 2002, Avoca has grown dramatically to become an ASX 200 gold mining company, headquartered in Perth, Western Australia.
In late 2004, Avoca discovered the high-grade underground Trident ore body within the historic Higginsville gold mining district it had acquired in mid 2004 for $AUD6.25M. Trident now forms the backbone of the Higginsville Gold Operation which is scheduled to produce in excess of 190,000 ounces in FY2010 at a cash operating cost of AUD$452/oz. With a growing resource base in excess of 1.45 million ounces, Avoca's management is confident that Higginsville will have a mine life of 10+ years.
Avoca's senior management team include a highly competent and experienced group of mining professionals which have held senior operational roles in several of Western Australia's largest mining centres. Avoca's managing director, Rohan Williams, has more than 15 years experience in the Kalgoorlie to Norseman region having worked as chief geologist at both the 15+ million ounce St Ives field immediately north of Higginsville, and the 6+ million ounce Norseman field immediately to the south.
Avoca's strategy of developing a dominant position in Australia's richest gold belt, being from Kalgoorlie to Norseman, has taken a significant step forward following the successful takeover of Dioro Exploration NL. Combining the Higginsville and South Kalgoorlie asset bases will provide Avoca an annual production profile of 280,000+ ounces from two processing hubs, a reserve base in excess of 1 million ounces and a resource base of 4+ million ounces. Avoca views the combined exploration holding of over 3,500km2 as one of the very best exploration opportunities for gold in Australia.
The company has wide broker coverage and is viewed as an excellent example of company growth generated through organic exploration success. It has a history of delivering above expectations and has a very supportive shareholder base.
Avoca's Board and management team hold approximately 3% of its issued capital.