Australian Gold Stocks News Avoca Resources (AVO)

Avoca Resources AVO ASXAvoca Resources (AVO) is a gold producer focused on becoming the next Australian mid-tier gold mining company.

AVO’s base operation is its Higginsville Gold Project in Western Australia, which contains the Trident Underground Mine, AVO’s trump card.

Gold miners have been among the hot stocks in recent months, benefiting from record high bullion prices.

On 1 November, AVO reported its 1Q11 production numbers, with gold output rising 28% on-year to 64,783 ounces.

Cash costs rose to $577/oz from $428/oz a year ago, but this was compensated by an increase in the price of its gold sales to $1360/oz, from $1158/oz.

AVO also forecast an increase in gold output during the 2Q10 to 70,000 ounces.

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