Havilah Resources announces first gold ore and financials

Company News

by David Chau

Havilah Resources Limited (ASX:HAV) has announced that it has mined its first gold ore at its Portia gold project, South Australia.

The company says it delivered 10,000 tonnes of higher grade gold ore to its ore stockpile, along with significant tonnages of medium and lower grade material.

At 30 April, Havilah’s cash at bank was $300,000.

During the quarter, the company drew $1.8 million to fund the Portia processing plant’s capital expenditures.

The company also says that it will liquidate 339,000 shares by 30 June 2016, and reduce its number of shareholders by 619.

Havilah reported a net loss of $838,000 at 31 January 2016.

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