Avoca lifts production forecast

Shares in Avoca Resources have risen after the gold miner lifted its 2010 financial year production forecast for the Higginsville operation in Western Australia.

The miner is now projecting a production target at Higginsville of 190,000 ounces of gold at a cash cost estimate of $A468 an ounce, up from 180,000oz at $A450 an ounce.

Both cash costs are exclusive of royalties.

The Trident underground gold mine is forecast to produce at least 180,000oz in fiscal 2010 at an estimated cash cost of $440 an ounce.

Shares in Avoca closed up 12.5 cents at $1.675 today after reaching a high of $1.72.