New Risk • Dec 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Revenue is less than US$1m. New Risk • Nov 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 17% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Market cap is less than US$100m (AU$140.1m market cap, or US$92.0m). New Risk • Oct 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended January 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$8.8k revenue, or US$5.8k). Minor Risks Latest financial reports are more than 6 months old (reported January 2025 fiscal period end). Large one-off items impacting financial results. Market cap is less than US$100m (AU$85.8m market cap, or US$56.3m). Announcement • Oct 07
Havilah Resources Limited, Annual General Meeting, Dec 17, 2025 Havilah Resources Limited, Annual General Meeting, Dec 17, 2025. Announcement • Jul 29
Havilah Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million. Havilah Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million.
Security Name: Ordinary shares
Security Type: Common Stock
Securities Offered: 11,111,112
Price\Range: AUD 0.18
Transaction Features: Subsequent Direct Listing New Risk • Apr 12
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 335% Last year net profit margin: 35,412% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$925k revenue, or US$582k). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (335% net profit margin). Market cap is less than US$100m (AU$59.4m market cap, or US$37.3m). New Risk • Oct 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 34% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (87% net profit margin). Shareholders have been diluted in the past year (7.1% increase in shares outstanding). Revenue is less than US$5m (AU$6.4m revenue, or US$4.2m). Market cap is less than US$100m (AU$69.5m market cap, or US$45.7m). New Risk • Oct 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended January 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$8.1k revenue, or US$5.3k). Minor Risks Latest financial reports are more than 6 months old (reported January 2024 fiscal period end). Shareholders have been diluted in the past year (3.4% increase in shares outstanding). Market cap is less than US$100m (AU$70.4m market cap, or US$46.5m). Announcement • Oct 08
Havilah Resources Limited, Annual General Meeting, Dec 18, 2024 Havilah Resources Limited, Annual General Meeting, Dec 18, 2024. New Risk • Sep 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$8.1k revenue, or US$5.6k). Minor Risks Shareholders have been diluted in the past year (3.4% increase in shares outstanding). Market cap is less than US$100m (AU$65.5m market cap, or US$45.2m). Announcement • Aug 28
Havilah Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 4.071075 million. Havilah Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 4.071075 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 22,617,086
Price\Range: AUD 0.18
Transaction Features: Rights Offering Reported Earnings • Oct 31
Full year 2023 earnings released: EPS: AU$0.009 (vs AU$0.009 loss in FY 2022) Full year 2023 results: EPS: AU$0.009 (up from AU$0.009 loss in FY 2022). Revenue: AU$6.92m (up AU$6.86m from FY 2022). Net income: AU$2.93m (up AU$5.86m from FY 2022). Profit margin: 42% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Oct 10
Havilah Resources Limited, Annual General Meeting, Dec 20, 2023 Havilah Resources Limited, Annual General Meeting, Dec 20, 2023. Agenda: To consider re-election of directors. Announcement • Aug 10
Havilah Resources Limited (ASX:HAV) signed an agreement to acquire Non-core exploration lease EL 6299 from GBM Resources Limited (ASX:GBZ) for AUD 0.1 million. Havilah Resources Limited (ASX:HAV) signed an agreement to acquire Non-core exploration lease EL 6299 from GBM Resources Limited (ASX:GBZ) for AUD 0.1 million on August 8, 2023. Havilah Resources will pay AUD 0.05 million on completion of transfer of the tenement and the rest on commencement of first commercial production of iron ore. Reported Earnings • Apr 15
First half 2023 earnings released: EPS: AU$0.004 (vs AU$0.004 loss in 1H 2022) First half 2023 results: EPS: AU$0.004 (up from AU$0.004 loss in 1H 2022). Net income: AU$1.38m (up AU$2.71m from 1H 2022). Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Announcement • Jan 25
Havilah Resources Limited Reports Good Progress on the Study Program, Exploration Drilling Under the Curnamona Province Strategic Alliance and Tad Incubator Initiatives Havilah Resources Limited reported good progress on the Study Program, exploration drilling under the Curnamona Province Strategic Alliance (Strategic Alliance) and TAD (Think and Act Differently) incubator initiatives, all funded by OZ Minerals Limited. As a result of unavoidable delays caused by unseasonably heavy rains and receipt of requisite land access approvals, Havilah and OZ Minerals have agreed to a 69 day extension to the Study Program under the force majeure provisions. This will have the effect of extending the period for exercise of the Kalkaroo Option by 69 days to 10 May 2024 (if not exercised earlier or further extended). The exploration drilling program is initially focusing on 7 separate high priority copper prospect areas within Havilah's 100% owned exploration licence (EL) 6659 within 15km of the Kalkaroo copper-gold-cobalt project (Kalkaroo). The objective is to locate additional copper resources close to Kalkaroo that could be additive to the existing Kalkaroo JORC Mineral Resource and so enhance its development prospects. At the time of writing 37 reverse circulation (RC) percussion drillholes had been completed for a total of approximately 6,772 metres on 4 of these copper prospects, namely Johnson Dam, Deep Well, Main Dome NW and Kalkaroo West prospects. 2,332 drill samples have been submitted to an Adelaide assay laboratory. Detailed reporting and geological interpretations will be provided upon receipt of complete laboratory assay results and subsequent evaluation by geologists, including the relevant Competent Person. The Johnson Dam copper anomalous sulphide gossan (ironstone) was drilled first and intersected an approximately 30 metre thick quartz-carbonate-sulphide zone in several drillholes. It was initially recognised during 1988 by CSR Exploration who reported rock chip samples of gossanous ironstone assaying over 1,000 ppm copper. The gossan outcrops over 1 km of strike and is coincident in part with a linear magnetic feature, which may represent a possible shear zone. Drilling is presently concentrated on the Kalkaroo West prospect area on the possible western strike extensions of the Kalkaroo fault zone that is an interpreted major control on the Kalkaroo mineralisation. One diamond drilling rig is currently operating on 2 shifts within mining lease (ML) 6498 during the phase 1 drilling program. Initially 30 diamond drillholes are planned including 7 geotechnical holes and 23 holes that twin existing Havilah RC drillholes. This drilling program has several key objectives: Resource verification and checking for any bias in Havilah's earlier drilling results. Obtaining representative metallurgical bulk samples. Gathering detailed structural information for geotechnical inputs to inform open pit designs. Evaluating data quality of historical Havilah drilling programs. OZ Minerals has set up its own drillcore logging, cutting and density measurement facilities on site to handle the expected volume of drillcore and has assigned 3 experienced geologists to this task. Orexplore Technologies Limited (Orexplore) has established a core scanning facility on site using its GeoCore X10 hardware and its Insight software. The site is presently scanning historical drillcore and producing digital core models that are able to be remotely interpreted by the geology and study teams. The scanning is able to generate a high resolution 3D digital data set containing structural, mineralogical, textural, density, and other information that can deliver improved orebody knowledge and help to design optimised processing facilities. This process effectively results in a cloud-based virtual core farm that can be viewed digitally at any time. A primary objective of this work is to evaluate the variability of physical properties, mineralogy and other orebody attributes across the Kalkaroo orebody to complement resource modelling and metallurgical studies. A temporary 33 person fully catered camp to accommodate OZ Minerals and other contract personnel working on site is now operational. This will relieve the pressure on Havilah's exploration camp that has provided the bulk of accommodation of site personnel over the last several months and will offer more comfortable accommodation for a greater number of personnel working on site. According to the stated TAD objectives, this work is designed to create value by having the ability to assess and carry many more options, with greater speed and with the inclusion of a much more diverse set of perspectives than might be traditionally done when assessing a project like Kalkaroo. Orexplore drillcore scanning at Kalkaroo is a TAD incubator initiative. The core scanning data will be integrated with a new Kalkaroo base geological model and resource block model being compiled by TAD ecosystem companies using Havilah's historic database. The immediate objective is to generate optimised mining and processing plans that will form the basis for a fast-tracked economic model that is planned to be delivered by mid-year. Announcement • Nov 18
Havilah Resources Limited Announces Commencement of OZ Minerals-HAV Strategic Alliance Drill Havilah Resources Limited announced that exploration drilling under the Strategic Alliance funded by OZ Minerals Limited has commenced following mobilisation of the contractor drilling rig and associated equipment to site this week. This follows several months of drillhole planning and preparatory work, including heritage clearance surveys of proposed drilling sites and securing drilling approvals from the mining regulator in South Australia. The exploration drilling program will initially focus on 7 separate high priority copper prospect areas within Havilah's 100% owned exploration licence (EL) 6659 that surrounds Kalkaroo. The objective is to locate additional copper resources close to Kalkaroo that could be additive to the existing Kalkaroo JORC Mineral Resource and so enhance its development prospects. The program comprises 12,530 metres (firm - 66 drillholes) and 7,370 metres (contingent - 39 drillholes) of RC drilling for a total budget of up to $4 million over an estimated six month period. Drilling is planned to start in the south and move progressively northwards. The untested Johnson Dam copper anomalous sulphide gossan (ironstone) will be drilled first. It was initially recognised during 1988 by CSR Exploration who assayed several rock chip samples of gossanous ironstone containing over 1,000 ppm copper (Figure 2). The gossan outcrops over 1 km of strike and is coincident in part with a linear magnetic feature, which may represent a possible shear zone. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. 1 independent director (2 non-independent directors). Independent Non-Executive Director Victor Previn was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 01
Full year 2022 earnings released: AU$0.009 loss per share (vs AU$0.008 loss in FY 2021) Full year 2022 results: AU$0.009 loss per share (further deteriorated from AU$0.008 loss in FY 2021). Net loss: AU$2.93m (loss widened 24% from FY 2021). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Announcement • Oct 06
Havilah Resources Limited, Annual General Meeting, Dec 16, 2022 Havilah Resources Limited, Annual General Meeting, Dec 16, 2022. Agenda: To consider re-election of directors. Announcement • Sep 29
Havilah Resources Limited Announces Mutooroo Copper-Cobalt-Gold Deposit Drilling Results Havilah Resources Limited reported assay results for the reverse circulation (RC) drillholes from the current ongoing PFS open pit resource expansion drilling program at the Mutooroo copper-cobalt deposit (Mutooroo), 60 km southwest of Broken Hill. Recent drilling has confirmed multiple massive sulphide lodes up to 7 metre thickness, generally where expected from previous drilling and surface outcrops, with significant results of: MTRC241 4 metres of 1.31% copper, 0.11% cobalt and 0.16 g/t gold from 82 metres downhole. MTRC242 7 metres of 0.43% copper, 0.04% cobalt and 0.03 g/t gold from 38 metres downhole and 3 metres of 1.03% copper, 0.09% cobalt and 0.44 g/t gold from 84 metres downhole. MTRC243 3 metres of 1.71% copper, 0.14% cobalt and 0.32 g/t gold from 79 metres downhole and 5 metres of 0.72% copper, 0.09% cobalt and 0.13 g/t gold from 94 metres downhole. MTRC244 5 metres of 0.77% copper, 0.09% cobalt and 0.22 g/t gold from 118 metres downhole and 3 metres of 1.20% copper, 0.16% cobalt and 0.37 g/t gold from 129 metres downhole. In general the thicknesses of sulphide lode in the drillholes is comparable with historical records in nearby old mine workings, except in some cases only one of the two sulphide lodes intersected was recorded. Drilling elsewhere along strike has shown rapidly increasing grade-thickness of the sulphide lode with depth on some drill sections. Another tier of deeper drilling beneath the drillholes reported here would be required to test this possibility in this location. Four holes (MTRC236 to MTRC239) drilled on the southern extensions of the lode channel/shear zone returned low grade, sub-economic copper, cobalt and gold intercepts. These holes effectively close off the sulphide lode at shallow depth in the south, but potential still remains at depth due to the south-plunging nature of the thickened sulphide lode in this area. This drilling is part of the Mutooroo PFS with the immediate objective to test for shallow, open pit copper-cobalt- gold sulphide resources along strike from the existing Mutooroo resource and conceptual open pit design and below the shallow oxidised copper ore that was exploited via several historic mine shafts. Earlier Havilah drillholes discovered shallow oxidised copper mineralisation that could materially add to the near surface open pit resources in this area. Significant earlier drilling results in the oxidised mineralisation in the vicinity of the new drillholes reported here include: MTRC148 14 metres of 0.43% copper 0.02% cobalt and 0.1 g/t gold from 5 metres downhole. MTRC149 9 metres of 0.70% copper, 0.08% cobalt and 0.43 g/t gold from 34 metres downhole. MTRC151 25 metres of 0.41% copper from 6 metres downhole. MTRC152 16 metres of 1.0% copper, 0.08% cobalt and 0.1 g/t gold from 45 metres downhole. Announcement • Jul 28
Havilah Resources Limited, Annual General Meeting, Aug 31, 2022 Havilah Resources Limited, Annual General Meeting, Aug 31, 2022. Agenda: To consider and approve the Proposed Transaction, including the grant of the Kalkaroo Option, and upon exercise of the Kalkaroo Option, the disposal of the Company's interest in the Kalkaroo Project. Announcement • Jun 22
Havilah Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.8 million. Havilah Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.8 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,792,453
Price\Range: AUD 0.265
Transaction Features: Subsequent Direct Listing Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Victor Previn was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 12
First half 2022 earnings released First half 2022 results: Net income: (up AU$997.2k from 1H 2021). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Jan 18
Havilah Resources Limited Reports Assay Results for the First Reverse Circulation (RC) Drillholes Havilah Resources Limited reported assay results for the first reverse circulation (RC) drillholes from the current PFS open pit resource extension drilling program at the Mutooroo copper-cobalt deposit (Mutooroo), 60 km from Broken Hill (Figure 1, Table A). Recent drilling confirmed the presence of 1-5 metre thicknesses of copper-cobalt massive sulphide lode, consistent with historical records of the sulphide lodes in cross-cuts in the mine workings in the vicinity with significant results of: MTRC232 5 metres of 1.01% copper, 0.12% cobalt and 0.09 g/t gold from 66 metres downhole. MTRC233 5 metres of 1.7% copper, 0.18% cobalt and 0.13 g/t gold from 95 metres downhole. A trend of increasing grade-thickness of the copper-cobalt sulphide lode with depth in drillholes MTRC232 and MTRC233 is encouraging because elsewhere at Mutooroo such trends have pointed to appreciable (>15 metre) thicknesses of sulphide mineralisation at depth. Further deeper drilling beneath drillhole MTRC233 will be required to test this case. Also of note is a second shallower (hangingwall) lode intersected in drillhole MTRC235. The hangingwall lode corresponds with a gossan outcrop mapped on the surface. The presence of discrete parallel hangingwall and footwall lodes is a feature of the Mutooroo deposit that was indicated by earlier drilling and has potential to boost resource tonnages and enhance the economic viability of open pit mining. This drilling is part of the Mutooroo PFS with the primary objective to test for shallow, open pit copper-cobalt sulphide resources along strike from the existing Mutooroo resource and conceptual open pit design and below the shallow oxidised copper ore that was exploited via several historic mine shafts (Figures 2 and 3). Earlier Havilah drillholes discovered shallow oxidised copper mineralisation that is expected to add materially to the near surface open pit resources in this area. Significant earlier drilling results in the oxidised mineralisation in this area included: MTRC180 16 metres of 1.54% copper from 11 metres downhole. MTRC164 13 metres of 1.11% copper, 0.2% cobalt and 0.07 g/t gold from 1 metre downhole. MTRC173 7 metres of 0.72% copper, 0.035% cobalt and 0.44 g/t gold from 1 metre downhole. MTRC167 18 metres of 0.33% copper from 4 metres downhole. About Mutooroo and the Mutooroo Project Area (MPA) Mutooroo is Havilah's second advanced stage copper-cobalt project that is located within commuting distance of Broken Hill. It contains 195,000 tonnes of copper, 20,200 tonnes of cobalt and 82,100 ounces of gold in a massive sulphide lode. As such, Mutooroo is one of the largest and highest grade sulphide cobalt deposits associated with copper in Australia. Cobalt is deemed a critical mineral and is used in high performance lithium batteries to enhance charging characteristics. Demand has elevated the London Metal Exchange price of cobalt to around USD 70,000 per tonne currently and adds significantly to the potential value of the Mutooroo deposit. Announcement • Dec 15
Havilah Resources Limited announced that it expects to receive AUD 0.6 million in funding Havilah Resources Limited announced a private placement of 3,529,412 shares at the price of AUD 0.17 for gross proceeds of AUD 600,000.04 on December 14, 2021. The transaction is expected to close on December 24, 2021. Reported Earnings • Oct 27
Full year 2021 earnings released: AU$0.008 loss per share (vs AU$0.019 loss in FY 2020) Full year 2021 results: Net loss: AU$2.36m (loss narrowed 50% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Jun 22
Havilah Resources Limited Announces High Copper Grades at Kalkaroo Havilah Resources Limited provided a further update on progress of work at its large-scale Kalkaroo copper-gold-cobalt deposit (Kalkaroo) in northeastern South Australia, near Broken Hill. Havilah's priority focus during recent months has been on advancing several key tasks that are required to commence the West Kalkaroo open pit gold mine, and also carrying out additional infill drilling to gain greater confidence in the mineral resource. Two infill reverse circulation (RC) drill transects were completed by Havilah's drilling crew along strike of the proposed West Kalkaroo gold open pit to establish continuity of the mineralisation between the existing 100 metre spaced drill sections that were used to define the Kalkaroo JORC Mineral Resource. These results will be used for future mine planning studies. These RC holes were mostly designed to target the deeper sulphide mineralisation. Widespread copper and gold mineralisation was intersected in all drillholes, with grades and widths of sulphide mineralisation very typical of the Main Kalkaroo deposit. Announcement • May 17
Havilah Resources Limited Provides Update on Progress of Work At Its Large-Scale Kalkaroo Copper-Gold-Cobalt Deposit Havilah Resources Limited provides an update on progress of work at its large-scale Kalkaroo copper-gold-cobalt deposit (Kalkaroo) in northeastern South Australia, near Broken Hill. Havilah's priority focus during recent months has been on advancing several key tasks that are required to commence the West Kalkaroo open pit gold mine. Several infill reverse circulation (RC) drillholes were completed along strike of the proposed West Kalkaroo open pit to improve confidence in the continuity of mineralisation. These results will be used in future mine planning studies. Widespread copper and gold mineralisation was intersected in most drillholes, with grades and widths of mineralisation very typical of the Kalkaroo deposit, including: KKRC606: 17 metres of 2.24 g/t gold from 110-127 metres (native copper zone); 46 metres of 0.49% copper from 110-156 metres (native copper zone and chalcocite zone). Extensive faulting and fracturing is likely enhancing the grade of gold mineralisation in this area. Low-grade base of Tertiary gold mineralisation was also extended by shallow aircore drilling within or adjacent to the proposed West Kalkaroo open pit. Six sterilisation holes have been completed in the vicinity of the planned locations of key infrastructure, including the processing plant, tailings storage facility and waste dump, to ensure that they will not be built too close to potentially economic mineralisation. The PEPR document, which is the final permitting approval required for commencement of mining, was submitted to the DEM during March 2021. Thusfar, Havilah has had no feedback other than in relation to the calculation methodology of the rehabilitation bond, which it is in the process of addressing. Havilah has conducted Kalkaroo site visits with potential mining contractors with a view to agreeing the terms and scope of possible mining contracting arrangements. The process flow sheet design is well advanced, with further refinement in equipment selection. The process plant has been designed to treat the soft oxidised and clayey ore material and would recover coarser gold and native copper (greater than 50 microns grain size) by gravity methods. The finer gold would be recovered via a conventional cyanide leach circuit. A positive feature of the Kalkaroo deposit is that while there is a high proportion of sub-10 micron saprolite gold ore material, there is very little gold in this size fraction. This raises the possibility of rejection of a large mass of the very fine clayey material prior to leaching, thus effectively increasing the leaching circuit ore throughput. Announcement • Mar 15
Havilah Resources Limited Lodges the Kalkaroo Pepr Document with the Dem for Assessment and Approval Havilah Resources Limited (Havilah or Company) announced that it has lodged the Kalkaroo PEPR document with the DEM for assessment and approval. The PEPR is a comprehensive document that describes how Havilah would monitor, minimise and mitigate any impacts of the proposed West Kalkaroo mining operation on the natural environment and local population. It also describes the rehabilitation measures that would be implemented upon closure of the mining operation such that any long-term impacts on the local environment are minimised. Subject to there being no major revisions required, DEM guidance indicates a minimum 3 to 4 month assessment and approval period for a PEPR. The Company will continue to work on finalising the project financial model and FEED studies for the gold processing plant, including final process flow sheet design and equipment selection during calendar year 2021. The PEPR covers the proposed West Kalkaroo gold open pit that is located at the very western (and upper) part of the Main Kalkaroo copper-gold deposit. The West Kalkaroo mining operation is initially proposed to produce 80,000-90,000 ounces of gold and 5,000 tonnes of native copper (near pure copper metal) over a 3-4 year period, but mining may be continued in the eastern extensions of the oxide zone. The West Kalkaroo gold ore is a soft, clayey material that is free-dig (no blasting required) and needs only light crushing and scrubbing to liberate the `free' gold particles. The gold (and some native copper) would be recovered in a gravity circuit, followed by carbon-in-pulp cyanide leaching for the remainder of the finer gold. This development path does not preclude transitioning to the much larger scale, viable Main Kalkaroo copper-gold project in the future should adequate capital become available. The gold mining at West Kalkaroo would remove much of the soft free-dig overburden, which should make the Main Kalkaroo copper-gold project a potentially more attractive investment proposition. Announcement • Feb 02
Havilah Resources Limited Reports Kalkaroo Positive Drilling Results Havilah Resources Limited reported further economic grade copper and gold drilling results in the last three reverse circulation (RC) drillholes from its 2020 West Kalkaroo drilling campaign. These results continue to support the development potential of Havilah's large Kalkaroo copper-gold deposit (Kalkaroo) in northeastern South Australia, near Broken Hill. The three holes were drilled into the fault intersection zone that lies to the east of the planned gold open pit at West Kalkaroo. This area is considered favourable for vein and breccia style copper-gold mineralisation due to greater fracturing intensity caused by the combined fault dislocations. The holes lie in the vicinity of an earlier Newcrest drillhole (NKAC0171) that intersected 45 metres of 0.90 g/t gold and 12 metres of 1.07% copper. Significant drill intercepts returned from the fault intersection zone, in part lying outside of the current Kalkaroo JORC Mineral Resource envelope, include: KKRC0588: 16 metres of 1.31 g/t gold from 69-85 metres (base of Tertiary and upper saprolite gold zone). 37 metres of 0.52 g/t gold from 99-136 metres (saprolite gold and native copper zone). 21 metres of 0.39% copper from 136-157 metres (mostly chalcocite copper sulphide zone). KKRC0589: 5 metres of 0.72 g/t gold from 79-84 metres (base of Tertiary and upper saprolite zone). 22 metres of 0.40 g/t gold from 97-119 metres (saprolite gold zone). 31 metres of 0.19% copper from 150-181 metres (copper sulphide zone). KKRC0590: 10 metres of 1.51 g/t gold from 102-112 metres (saprolite gold zone). 13 metres of 1.37% copper and 0.55 g/t gold from 133-146 metres (copper sulphide zone). Key points of note from the drilling are: 1. The stacked sub-horizontal mineralised zones as shown by the downhole assays and geological logs in the cross sections, including:· Persistent gold mineralisation of economic grades near the base of Tertiary cover and saprolite boundary. Generally consistently mineralised underlying saprolite gold. · Frequent long copper and gold intervals in the underlying native copper and saprolite gold zones. Re-distribution of copper and gold in the upper oxidised ore has occurred during the deep weathering processes that affected the Kalkaroo primary sulphide orebody. Faulting and associated fracturing and veining has exerted a major control on the distribution of the primary copper and gold mineralisation, which is likely to persist below Havilah's current drilling depth limit of approximately 200 metres. Drilling at Kalkaroo during 2021 will initially focus on sterilisation drilling in the vicinity of planned West Kalkaroo mining infrastructure (eg. processing plant, waste dump). Further exploration drilling along the main Kalkaroo fault to the east will be undertaken subject to drilling rig availability, due to the good prospects for extending the fault-controlled mineralisation in this direction. Is New 90 Day High Low • Jan 21
New 90-day high: AU$0.21 The company is up 13% from its price of AU$0.19 on 23 October 2020. The Australian market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 22% over the same period. Announcement • Nov 16
Havilah Resources Limited announced that it expects to receive AUD 2.55 million in funding Havilah Resources Limited (ASX:HAV) announce a private placement of 15,000,000 common shares at a price of AUD 0.17 per share for gross proceeds of AUD 2,550,000 November 16, 2020. The transaction included participation from existing and new institutional as well as sophisticated investors. The transaction is expected to close on November 20, 2020. Is New 90 Day High Low • Nov 06
New 90-day high: AU$0.20 The company is up 8.0% from its price of AU$0.19 on 07 August 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 8.0% over the same period. Announcement • Oct 29
Havilah Resources Limited Auditor Raises 'Going Concern' Doubt Havilah Resources Limited filed its Annual on Oct 27, 2020 for the period ending Jul 31, 2020. In this report its auditor, Grant Thornton, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Reported Earnings • Oct 28
Full year earnings released - AU$0.019 loss per share Over the last 12 months the company has reported total losses of AU$4.73m, with losses narrowing by 36% from the prior year. Announcement • Oct 15
Havilah Resources Limited Reports Recent Reverse Circulation (Rc) Drilling Results Havilah Resources Limited report recent reverse circulation (RC) drilling results from the last two holes drilled into the fault intersection zone that lies to the east of the planned Stage 3 starter open pit at West Kalkaroo. This area is considered favorable for vein and breccia style copper-gold mineralisation due to greater fracturing intensity caused by the combined fault dislocations. The east-northeast fault zone (or main Kalkaroo fault) was intersected in drillholes KKRC0585 and KKRC0586 and is marked by a near vertical, 20 metre wide, well mineralised quartz-breccia. Significant drill intercepts returned from the fault zone, and lying mostly outside of the current Kalkaroo JORC resource envelope, include: KKRC0585: 25 metres of 0.85 g/t gold from 112-137 metres and 16 metres of 0.22% copper from 128-144 metres (end of hole). KKRC0586: 10 metres of 1.52 g/t gold from 112-122 metres. 27 metres of 0.30% copper from 122-149 metres; 34 metres of 0.26 g/t gold 122-156 metres. The following geological observations are also of note: Lanthanum (La), which is a good proxy for other rare earth elements (REE) at Kalkaroo is notably elevated, with values up to 1,050 ppm. The La mineralisation is high within or near the best copper- gold mineralised zones. A more precise REE analytical method is required to properly quantify the actual REE spectrum (note that ppm = parts per million and 1 ppm = 1 g/t). The rare and critical high value elements scandium (Sc) and gallium (Ga) are also elevated in the copper- gold mineralised zones with values up to 40 ppm and 90 ppm respectively. Again, more precise analyses are required to better understand the distribution of these elements. In the deeper, less oxidised parts of both drillholes, gangue mineral assemblages dominated by biotite and magnetite are common, indicative of relatively high temperature potassic alteration (potassium-rich biotite) and iron metasomatism (iron oxide - magnetite) typical of the primary sulphide mineralisation at Kalkaroo. Announcement • Sep 17
Havilah Resources Limited Announces Long Kalkaroo Copper-Gold Intersections Havilah Resources Limited announced to report recent reverse circulation drilling results from West Kalkaroo to the east of the planned Stage 3 starter open pit. The main target was the fault intersection zone that is considered to be favourable for vein and breccia style copper-gold mineralisation due to greater fracturing intensity caused by the combined fault dislocations. This proposition is supported by long intervals of gold and/or gold-copper mineralisation returned in all drillholes. The RC drillholes were able to penetrate significantly deeper than the previous aircore drillholes and most intersected gold at or near the Tertiary-bedrock unconformity, in the saprolite gold zone and in the underlying native copper zone that transitions into the sulphide zone. The east-northeast trending fault zone (or main Kalkaroo fault) was intersected in three drillholes, namely KKRC0579, KKRC0581 and KKRC0583 and is marked by a near vertical, 20 metre wide, well mineralised quartz-breccia. Significant intercepts returned from the current round of drilling include: KKAC0578: 46.5 metres of 1.15 g/t gold from 77-123.5 metres (note this is an earlier aircore drillhole that lies within the Stage 3 starter open pit. It ended in gold mineralisation at bit refusal). KKRC0579: 3 metres of 0.71 g/t gold from 60-63 metres (base of Tertiary gold mineralisation). 31 metres of 1.01 g/t gold from 79-110 metres (saprolite gold mineralisation). 8 metres of 1.13 g/t gold & 2.31% copper from 148-156 metres, within 22 metres of 0.59 g/t gold & 1.27% copper from 134-156 metres (ended in copper-gold sulphide mineralisation). KKAC0581: 16 metres of 0.98 g/t gold from 92-108 metres (mostly saprolite gold mineralisation in fault zone). 68 metres of 0.40 g/t gold & 0.20% copper from 92-160 metres (native copper & sulphide zone). KKRC0582: 8 metres of 2.28 g/t gold from 65-73 metres (base of Tertiary gold mineralisation). 35 metres of 1.20 g/t gold from 87-122 metres (saprolite gold & native copper zone). 32 metres of 0.27 g/t gold & 0.40% copper from 146-178 metres (sulphide mineralisation). KKRC0583: 11 metres of 1.53 g/t gold from 63-74 metres (base of Tertiary gold mineralisation). 17 metres of 1.22 g/t gold from 93-110 metres (saprolite gold & native copper zone). 34 metres of 0.56 g/t gold & 1.10% copper from 152-186 metres (sulphide mineralisation within fault zone). The fault intersection zone on the cross-section is at least 200 metres wide, and the present drilling has so far demonstrated a continuously mineralised zone over at least half of this width. Havilah's recent results accord with earlier wide-spaced results in the same fault intersection zone, including: KKRC0047: 82 metres of 1.14 g/t gold from 72-154 metres, that included 34 metres of 2.02 g/t gold from 92-126 metres and 26 metres of 1.08% copper from 115-141 metres (2004 Havilah RC drillhole). NKAC0171: 45 metres of 0.90 g/t gold from 90-135 metres and 6 metres of 2% copper from 123-129 metres (June 1997 Newcrest aircore drillhole 50 metres south of KKRC0047 and ended in gold mineralisation). KKRC0232: 40 metres of 1.29 g/t gold from 96-136 metres (2008 Havilah RC drillhole, 180 metres southeast of KKRC0047 on the east-northeast fault). KKDD0263A: 21 metres of 3.13 g/t gold from 120-141 metres (2008 Havilah diamond drillhole, 250 metres southeast of KKRC0047 on the east-northeast fault). Recent RC drilling at West Kalkaroo is located several hundred metres east of the planned Stage 3 starter open pit (blue), with the cross-section line shown (orange line marked A-B). The target of current drilling (within the dashed red outline area) lies at the intersection zone of two major faults shown in red and green. Cross-section showing significant mineralised intervals in recent West Kalkaroo RC drillholes (red and yellow) located where shown on the inset picture. The well mineralised main east-northeast trending fault zone, marked by massive quartz veining (red pattern), was intersected in drillholes KKRC0581 and KKRC0583.