Eastern Goldfields’ Davyhurst project achieves record gold pour

Image: Eastern Goldfields

Eastern Goldfields has achieved a weekly record gold pour at its 100 per cent-owned Davyhurst gold project, 120km northwest of Kalgoorlie in Western Australia.

The pour of 850 fine ounces (oz) produced $1.48 million in weekly revenue at an average gold price of $1744.26/oz (the latest gold price is $1754.90/oz).

Total resources at the Davyhurst project stand at 1.4Moz at an average grade of 2.5 grams per tonne (g/t) of gold.

Eastern Goldfields chairman Michael Fotios was naturally pleased with the results, stating that 2018 would be a “transformational year” for the gold miner.

“We appreciate the ongoing support of all of our stakeholders — employees, contractors, communities and shareholders — as we continue to realise our vision to become the next mid-tier gold producer in the Eastern Goldfields,” Fotios said.

Last year was a difficult one for the company; mining services company GR Engineering launched proceedings against Eastern Goldfields in July 2017 over a contractual dispute at the Davyhurst project.

A month later the WA Supreme Court ordered a short-lived wind up order in relation to a claim from Genalysis Laboratory Services that it was owed around $383,000 by the company. The wind-up order would have seen the company have a liquidator appointed had Eastern Goldfields not provided proof of payments.

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