- Havilah's 10,000 ounce gold hedging facility closed out.
- Full exposure to future gold price movements from ongoing production.
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."
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About Havilah Resources Ltd
Havilah Resources Ltd (ASX:HAV) is a debt free South Australian gold producer having recently financed and developed its first gold mine at Portia in north-eastern South Australia. It plans to follow on with three copper-gold-cobalt mining developments at North Portia, Kalkaroo and Mutooroo, which are underpinned by a JORC resources mineral inventory of over 1.4 million tonnes of copper, 3.6 million ounces of gold, and 18,000 tonnes of cobalt.
Havilah Resources Ltd