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    Avanco Resources Releases September 2015 Quarterly Activities Report

    Matthew Spizziri
    Oct. 30, 2015 11:30AM PST
    Base Metals Investing
    ASX:AVB

    Avanco Resources Limited (ASX:AVB) announced the release of their quarterly activities report ending September 2015.

    Avanco Resources Limited (ASX:AVB) announced the release of their quarterly activities report ending September 2015.
    As quoted in the press release:

    HIGHLIGHTS

    • Construction at Antas commenced in May 2015 and continues to progress on schedule and within budget. Management aim to be commissioning in the 1 st Quarter, 2016
    • No Lost Time Injuries, Medical Treatment Incidents or Environmental events occurred during the quarter
    • Forty percent of Construction CAPEX has been spent. Plant earthworks are complete and ~80% of civil works are completed
    • The plant site has been connected to the 34.5kV high-tension power line
    • Site expenditure, including labour costs, are in local currency (Brazilian Real), consequently the weakening Real is reducing construction costs and financial risk
    • Pre-stripping of the Antas Open Pit has commenced on schedule
    • The Lump Sum Turn Key Metso Filter construction is on schedule
    • Installation of the crushing circuit is nearing completion, with electrical connection and reticulation progressing
    • Construction of the Tailings Management Facility (TMF) drainage filter is complete. Lifting and compaction of the dam embankment is ongoing, with completion anticipated during November
    • Avanco’s construction “Owner’s Team” is operating very effectively, has been expanded, reinforced and provides continuous progress reporting
    • Antas is forecast to ramp-up to ~12,000t of copper and ~7,000oz of gold per annum
    • Execution of Off-Take contract(s) for concentrates is targeted for December
    • The Company is financially strong, debt free and owns 100% of both Antas and the proximal, larger, Stage 2 Pedra Branca Copper Project
    • Good progress has been achieved on the Pedra Branca scoping study
    • The Managing Director has relocated to site to ensure ‘Operational Readiness’

    Connect with Avanco Resources Limited (ASX:AVB) to receive an Investor Kit

    off-take contractasx:avbavanco resourcesavanco resources limited
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