Havilah receives first payment for sales from Portia gold mine
JOHANNESBURG (miningweekly.com) – ASX-listed junior Havilah Resources finalised first gold sales from its Portia gold mine, in South Australia, on Friday, after pouring the mine’s first gold early last month.
The company announced on Tuesday that it had realised about $266 000 after settlement costs, from the sale of about 165 oz, or about 5 kg.
This represented the 50% share of the gold revenue under the revenue sharing agreement with Portia mine partner Consolidated Mining and Civil.
Havilah noted that, subsequent to the sale, additional gold shipments had been dispatched to the refiner and payments would be received in due course.
Havilah MD Dr Chris Giles noted that this was the first mining income received by Havilah and the most significant financial milestone achieved in the company’s history.
“We have now succeeded in executing the entire process from exploration through mining, processing and sale of gold, which is a great tribute to the persistence and dedication of our staff over many years,” he added.
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