AVO avoca resources limited

financiers approve performance test completion

  1. 3,559 Posts.
    Great News. Another hurdle out of the way. Thought there might be an announcement today

    Angers

    FINANCIERS APPROVE PERFORMANCE TEST COMPLETION
    The Directors of Avoca Resources Limited (Avoca) are pleased to advise that Société Genéralé Australia
    Branch and the Commonwealth Bank of Australia (together Financiers) have confirmed to Avoca that it has
    successfully completed the performance tests required by the Financiers as part of the conditions for the
    Higginsville Gold Project financing (announced to the ASX on 21 May 2008). The performance tests
    required Avoca meet certain mining production rates, mill throughput rates, ounces produced and cost
    profiles during a continuous 30 day period prior to 31 December 2008. The successful completion of the
    performance tests is a key milestone for Avoca as it represents the meeting of the final conditions relating to
    the financing.
 
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