Havilah Resources Limited plans to sequentially develop its portfolio of gold, copper, iron, cobalt, tin and other mineral resources in South Australia. Our vision is to become a new mining force, delivering value to our shareholders, partners and the community.
169 million Ordinary Shares -- 36 million Listed Options -- 8 million Unlisted Options
ASX and Media Release: 1 August 2016 ASX Code: HAV
Gold recovery on the Wilfley table at Portia
FIRST DEBT REPAYMENT OF INVESTEC LOAN FACILITY
Havilah Resources Limited ("Havilah" or "Company") is pleased to announce that it made its first debt repayment of
$0.5 million on the Investec Group ("Investec") Loan Facility. The outstanding balance of the Loan Facility is now
$3.5 million. A series of additional payments are planned in August based on bullion that is currently being refined.
With the construction of the Portia Gold Mine processing plant and the ramp up to the first production of gold the Company drew down $4 million of the $6 million facility. This repayment is made five months before the first scheduled repayment is due.
Commenting on the debt repayment, Managing Director, Dr Chris Giles, said "We are very grateful to Investec for its support over the last 12 months, which provided us with the funds to construct the processing plant.
"This first repayment, well before it is due, represents the achievement of yet another milestone.
"Production of gold has ramped up over the last few weeks and we recently had a 40 kg gold pour in a single day which has allowed Havilah to commence repayment of its modest debt much earlier than anticipated" he said.
For further information visit www.havilah-resources.com.au
Contact: Dr Chris Giles, Managing Director, on (08) 8338-9292 or email:[email protected]
www.havilah-resources.com.au HAVILAH RESOURCES LIMITED
ABN 39 077 435 520
MAIL: 31 Flemington Street, Glenside, SA 5065 Australia EMAIL: [email protected]
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