Proactive Investors Article – Avanco Resources Limited in Copper Production Ramp-up in Brazil

A recent article by Proactive Investors highlighted that Avanco Resources Limited (ASX:AVB) has now triggered a copper concentrate production ramp-up at the Antas development in Brazil.
As quoted in the press release:

Commissioning of the Metso filter is now complete, which facilitates the integration of what is now a fully operational concentrator with 300 tonnes of copper concentrate filtered to around 8% moisture stockpiled ready for dispatch.
With the filter unit now functional, plant throughput is being ramped up to a rate equal to an annualised capacity of 500,000tpa ROM. From now on and throughout quarter two, optimisation of plant availability, metallurgical efficiencies and concentrate quality will be on-going. Avanco either owns, or holds the rights to 100%, of the second largest area of mineral tenure in the world-class Carajas region, behind Vale SA.
The company is well positioned to potentially operate a number of high grade, low cost copper/gold mines in the region which will establish Avanco as a potentially profitable long life producer. Management have been successful in obtaining funding for Antas via an equity capital raising putting Avanco in a strong financial position whereby management believes it is fully funded into production whist remaining debt and covenant free. Institutional shareholders include: Blackrock World Mining Trust, Appian Natural Resources Fund, Greenstone Resources and Glencore.

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