mining news story avoca shaping up nicely

Higginsville still shaping up nicely: Avoca

Kate Hayco/k
Thursday, January 31, 2008

AVOCA Resources' Higginsville project looks set to reach its commissioning deadline of June 2008, the company announced today.

The company said the 1 million tonne per annum Higginsville treatment plant was almost 50% complete by the end of the December quarter and work at the project remained within budget and on time.

Mining began at the Higginsville gold project, which has a resource inventory of 11.7 million tonnes at 3.6 grams per tonne gold for 1.35 million ounces, in early 2007.

Other infrastructure, including the 180-person village, workshops, dual gas and diesel power station, borefield and communications link to Perth is also progressing.

The company developed 2282m underground in the December quarter and production from the ore drive development totalled 15,120t at 3.1gpt gold for 1507oz.

Additional production from outside reserves came to 51,680t at 1.5gpt gold for 2493oz.

Shares in the miner reached a high of $2.02 in intra-day trading before cooling to close unchanged at $1.95.