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Havilah Resources Limited (HAV) - Flagship project taking centre stage
Production at the Portia Gold Mine of only 2,130oz Au in the April 2017 quarter was disappointing relative to HAV’s first two financial quarters; lower gold production was due to lower throughput of higher grade material (as a result of processing difficulties) leading to a significant drop in the overall processed grade to 0.9g/t (from >3.6g/t). We forecast July quarter gold output of ~6,300oz (on higher plant throughput of higher-grade saprolite ore).