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Anova signs toll-milling deal for Second Fortune gold ore with Maximus unit

Anova Metals Ltd. said Jan. 31 that it signed a deal with Maximus Resources Ltd. unit Eastern Goldfields Milling Services Pty. Ltd. for toll milling 40,000 tonnes of ore from the Second Fortune gold project in Western Australia.

Under the deal, ore will be transported via road about 270 kilometers to the Burbanks gold processing facility. The company's ore will be treated on a campaign basis, with fees comprising a fixed tonnage cost plus an allowance for variable costs based on the performance of the ore in the mill.

In addition, Anova agreed to a partial prepayment of processing costs for priority milling its ore, deductible from the costs of ore processed.