HAV - Havilah Resources

[56gsa]

Interesting times for HAV coming up I feel - with this proposed distribution of their major investment in CUY, will be interesting to see what affect it has on HAV shareprice... directors hope it will be re-rated to better reflect their projects, cause to date the HAV sp has been linked pretty much with CUY, and to some extent GHT investments

IN SPECIE DISTRIBUTION OF CURNAMONA ENERGY SHARES
Havilah Resources NL’s (Havilah - ASX :HAV) previously announced intention for an in specie distribution of Curnamona Energy shares will be put to shareholders as a resolution at the forthcoming Annual General Meeting. If the Australian Taxation office grants demerger taxation relief as it has done in the past in similar situations, the Curnamona Energy shares should be tax free in the hands of Havilah shareholders. Existing Havilah option holders will be given adequate time to exercise their options ahead of the record date for entitlements, should they wish to do so. Depending on the number of Havilah options exercised ahead of the share distribution, Havilah shareholders would receive 1 Curnamona Energy share for each 3.3 to 3.7 Havilah shares held, assuming that Havilah distributes 80% of its present holding (ie 24 million shares). Based on Curnamona’s share price over the last two months this would equate to a return of approximately 30 to 40 cents per Havilah share.

 

[sharemadder]

HAVILAH RESOURCES NL

CHAIRMAN’S ADDRESS TO AGM

19 December 2007
HAVILAH – HEADING TOWARDS PRODUCTION

Dear Shareholders

As Havilah’s projects advance, each year gets busier with new milestones reached and new ambitious goals defined for the coming year.​

A significant event during 2007 was the introduction of large respected international miner and investor, Glencore International, to the Kalkaroo copper-gold project. Via a Joint Venture Glencore is earning a 14% interest in the Kalkaroo orebody, by advancing $14m to fund the detailed feasibility study. This study, involving extensive infill drilling and large diameter metallurgical coring, is well underway and has about 12 months to run. At the end of that we will have definitively determined the viability and size and scope of the future development of the Kalkaroo Mine. This work is going well and will be explained more fully in the technical presentation after the meeting.​

At Mutooroo we also have our Chinese partner, Heilongjiang Resources, funding the infill feasibility drilling, and in the first half of 2008 we will have the feasibility study complete. Strong and persistent sulphide mineralisation has been discovered here and the many components of this ore (copper, cobalt, gold and sulphur) are enjoying strong prices. We believe this will be our second mine.​

Portia, the enigmatic gold deposit we have drilled on the Benagerie dome, will be our first mining operation, starting with the trial mine as we have previously described. Under the 60-70 metres of soft overburden lies a rich gold horizon which, if our modelling is confirmed, will result in a gold mine, with the gold won by simple opencut mining and gravity separation of the gold. We have lodged all our Mine Plans with PIRSA and are finalising an historic agreement with the Adnyamathanha Native Title Claimants. The details are confidential but it is a very fair outcome for the parties, and will provide a shared reward and enable Havilah to provide employment opportunities to the indigenous community.​

While we have been focusing on moving these three development projects to the mining phase we have limited our exploration activity to some minor tasks. One opportunity was the Prospect Hill tin prospect where we are earning a joint venture interest in a significant tin project which is amenable to open-cut mining. Tin is a valuable commodity in scarce supply.
​

Next year we will begin doing more exploration to add to the pipeline of projects. We have a very prospective exploration portfolio and are keen to discover new orebodies close to our existing projects.

Our methodology has been proven to be robust and efficient. We have many new opportunities in copper, gold, zinc, lead and uranium.​

Interestingly all of our activities deliver technical synergies to our subsidiaries and vice versa. It is an effective model when one has ground that is richly endowed. ​

We have before the meeting a Resolution to distribute around 24 million Curnamona Energy shares to Havilah Resources shareholders.​

The unfortunate reality is that Havilah gets little or no market recognition for its equity in Curnamona Energy. We have decided that shareholders should get the shares back so that they can get the recognition and financial benefit directly in their hands. We would encourage people to hold onto the Curnamona shares, as Curnamona may well be the next uranium producer in Australia and enjoy record prices for uranium. ​

This also crystallises some of the benefit to the patient shareholders in Havilah. An initial investment of $2,000 in Havilah, together with all of its subsequent issues and IPO opportunities, has delivered a very substantial return. This latest item will add another layer to that benefit. Havilah, by this one distribution, will have effectively paid back all the capital it has raised over the past 6 years.​

None of this is done with clever financial engineering or debt. It is done with hard work, good people and most importantly, the discovery of orebodies. Our field staff are to be commended for their efforts.​

Our subsidiaries, Curnamona Energy and Geothermal Resources will also be successful in their own right. We have maintained tight capital structures and steered the companies towards commercial development.​

Directors remain committed to building on Havilah’s strong mineral development, exploration and investment portfolio to add further shareholder wealth, and the next year will see major strides as one or more mines are developed.​

K R Johnson, Ph.D
CHAIRMAN ​

 

[springhill]

Kalkaroo: 124.5 Mt 0.50% Cu 0.39g/t Au Meas+Indic resource
plus 18.7 Mt 0.74 g/t Au Meas resource
Mutooroo:13.1Mt 1.48%Cu, 0.14%Co Meas+Indic+Inferred res
North Portia: 11.3Mt 0.89%Cu, 0.64g/tAu, 500ppmMo Ind+Inf res
Portia: 720,000t 2.9g/t Au Inferred resource Maldorky: 147Mt 30.1% Fe (18% Fe cutoff) Indicated resource Excellent potential to expand known resources in all cases.
MMG Exploration spending $12m over 5 years exploring for IOCG and sedimentary hosted Pb-Zn deposits on Havilah’s tenements

Wilkins Copper Mineralisation Continues to Expand
● Long intervals of copper-gold mineralisation in three more holes:
WKRC005 51m at 0.36% copper and 0.10 g/t gold (42m -93m)
WKRC006 60m at 0.31% copper and 0.15 g/t gold (66m-126m) This hole stopped within the interpreted mineralised zone.
WKRC007 30m at 0.44% copper and 0.32 g/t gold (87m-117m).
This hole stopped in a fault zone.
● Mineralisation now proven over 250m within 3km target strike : the magnetic anomaly associated with the copper mineralisation is more than 3 km long. Earlier drilling by MIM Exploration some 2.4 km to the west intersected 18m at 0.41% copper and 0.20 g/t gold from 64m depth.
● Target geometry confirmed : these new holes, all drilled to the south, indicate a mineralised zone dipping roughly 700 north and about 100m wide (see section).
● Drilling continues on other targets : Havilah’s drilling crew are presently testing further targets both along strike and parallel to the Wilkins discovery.

Significant Extension of Kalkaroo Mineralisation
● Longest Havilah Drill Intercept to Date at Kalkaroo
An intercept of 174m at 0.25% copper and 0.15 g/t gold from 261m to 435m depth in diamond drillhole KKDD411, some 150m down dip from Havilah’s previous deepest intersection on this section line. This interval includes several higher grade zones, including 6m of 0.80% copper and 0.55g/t gold.
● Mineralised Prospective Sequence Rocks Proven at Depth
Mineralised prospective sequence rocks were intersected in diamond drillhole KKDD406 in the “saddle” area at around 500m depth and some 600m beyond the planned limits of the current open pit. Several thin ore-grade intervals lie below the previously reported extremely encouraging hangingwall intersection in this hole of 13m of 0.99% copper and 1.05 g/t gold from 198m depth.
● Significant Potential to Expand Kalkaroo Resource
Strong copper-gold mineralisation intersected in drillholes KKDD 401 and 411 highlights the potential to expand the currently defined resource down dip of the current open pit design for only an incremental increase in overburden removal. Also, for the first time, economic grades of copper-gold mineralisation have been discovered in hangingwall rocks, raising the possibility for shallower stacked ore lenses and further improvement in the open pit mining economics.

 

[greggles]

Havilah Resources has found solid support at 17c, having bounced off it three times since October last year. Today it gapped up, opening at 20c and finishing the day at 21c, only half a cent off its high of 21.5c.

The announcement today that motivated the move north was news that the company has entered into an agreement to sell the Benagerie Mining Lease, on which the Portia and North Portia projects are located, to Consolidated Mining and Civil Pty Ltd through the sale of its wholly owned subsidiary, Benagerie Gold Pty Ltd.

The transaction will realise substantial cash flow and allow Havilah to focus more attention on the advancement and ultimate development of the Mutooroo and Kalkaroo copper-cobalt-gold projects.

Looks like a good deal for Havilah that will provide it with $13.5 million over an 18 month period. Given Havilah's market cap of around $40 million HAV could represent a relatively low risk proposition at current levels.

 

[greggles]

17c has proven to be solid support for Havilah Resources, having bounced off it three times in the last nine months.

HAV has gapped up today after the release of a maiden Ore Reserve for its Kalkaroo copper-cobalt-gold project in the northeast of South Australia of 474,000 tonnes of contained copper and 1.41 million ounces of gold.

After spending a couple of weeks consolidating between 20c and 22.5c today's news has sent HAV north to be currently trading at 25c, up 19.05% from Friday's close. There appears to be some resistance at 29c so a solid break through that level would be a very bullish move.

 

[Ann]

Down 20% today after jumping up 45.16% yesterday...

Havilah Resources inks $100m deal with GFG Alliance to advance South Australian iron ore, copper projects

Minerals explorer Havilah Resources (ASX: HAV) has announced it will receive a “transformational” cash injection of up to $100 million from OneSteel Manufacturing Pty Ltd to fully-fund its work programs in the Mutooroo copper-cobalt district of South Australia’s Curnamona Craton.


OneSteel (trading as SIMEC Mining) is a member of mining and energy giant GFG Alliance headed by international businessman Sanjeev Gupta.


The group already has a major investment in South Australia via the Whyalla Steelworks and Whyalla port and export facility, and is well-positioned to provide Havilah with access to global capital markets and technical and commercial support.


The funding arrangement will establish a strategic partnership between Havilah and GFG and provides a clear pathway to potential commercialisation of the Maldorky, Grants and Grants Basin iron ore assets as well as a nearby project consisting of the Mutooroo deposit and neighbouring copper prospects.


The scale of Havilah’s iron ore assets alone is significant, backed by an initial exploration target announced last month at Grants Basin of up to 3.79 billion tonnes at between 23.9% to 27.6% iron. More...

 

[greggles]

Final laboratory assays for Grants Basin diamond drillhole GBDD014 have confirmed the earlier handheld Niton XRF Fe analyses. The final calculated intersection is a whopping 488 metres at 24.57% Fe from 126 metres to 614 metres downhole.

The current wide spaced drilling campaign has only covered about 25% of the area of the Grants Basin based on the aeromagnetic data interpretation. The company says that the next step is to carry out an infill resource drilling campaign, with the objective of defining a JORC resource as part of the planned prefeasibility studies.

All indications are that there is a lot of iron ore underneath the ground at Grants Basin. It's hard to argue with a 488 metre intersection.

Today's news has sent the HAV share price north and it is currently up 19.23% at 15.5c. Is the bottom in for HAV at 13c?

 

[Craton]

From the Havilah website:

Kalkaroo is one of the largest undeveloped open pit copper-gold deposits in Australia on a CuEq Ore Reserve basis.

However, HAV doesn't just have Au and Cu in their tenements. Cobalt, Iron Ore, Uranium and REE also feature.

 

[Dona Ferentes]

Shares in Havilah Resources have rocketed 85.3 per cent higher to 31.5¢ after it signed a binding term sheet with OZ Minerals to potentially sell its Kalkaroo copper-gold project for $205 million.

OZ Minerals has 18 months to decide whether it will acquire the project.

(nobody had it in the comp??)

 

[greggles]

Shares in Havilah Resources have rocketed 85.3 per cent higher to 31.5¢ after it signed a binding term sheet with OZ Minerals to potentially sell its Kalkaroo copper-gold project for $205 million.

OZ Minerals has 18 months to decide whether it will acquire the project.

(nobody had it in the comp??)

Looks like this is all approved aside from HAV shareholder approval, which will no doubt be given with the HAV board recommending the transaction. This looks like a good result for HAV and if the copper price keeps rising it will just sweeten the deal.

HAV up another 28.57% to 36c today.

 

[Sean K]

Looks like this is all approved aside from HAV shareholder approval, which will no doubt be given with the HAV board recommending the transaction. This looks like a good result for HAV and if the copper price keeps rising it will just sweeten the deal.

HAV up another 28.57% to 36c today.

I wonder if the BHP-OZL thing will affect this?

 

[Dona Ferentes]

I wonder if the BHP-OZL thing will affect this?

You'd have to think it was a positive. Shareholders to meet soon; the last step .

 

[frugal.rock]

Chart update

 

[Craton]

COMMENCEMENT OF OZ MINERALS-HAVILAH STRATEGIC ALLIANCE DRILLING

 

[Craton]

My Jan 2023 Stock Tipping Pick​

A MULTI-COMMODITY MINERALS PORTFOLIO​

A HAVILAH SHARE BUYS AN INTEREST IN THE FOLLOWING MINERAL ASSETS

• An advanced stage multi-commodity minerals portfolio in South Australia, comprising over 1.3 Mt copper, 3.2 Moz gold, 43.4 kt cobalt and 450 Mt iron ore in JORC resources.
  
• Kalkaroo copper-gold-cobalt project, one of the largest undeveloped open pit copper-gold deposits in Australia, containing an Ore Reserve (90% Proved) of over 100 Mt at a CuEq grade of 0.89%.
  
• Mutooroo copper-cobalt project, one of the largest and highest grade sulphide cobalt deposits in Australia with associated copper.
  
• Grants Basin iron ore project, one of the largest iron ore discoveries in Australia in the last decade, located only a few kilometres from a railway line.
  
• Over 16,000 km² exploration tenement holding in the Curnamona Craton, a proven world class mineral terrain that is host to the giant Broken Hill orebody.

 

[Dona Ferentes]

I wonder if the BHP-OZL thing will affect this?

BHP has decided to pull out of a deal with Havilah Resources (ASX:HAV), dealing a significant blow to the development of the Kalkaroo copper and gold project in northeastern South Australia. The decision has sent Havilah Resources' shares spiraling down by more than 20%.

BHP had initially acquired the Kalkaroo project through its $9.6 billion takeover of OZ Minerals last year. However, the company has now informed Havilah Resources that it will not exercise an option to acquire the Kalkaroo project, causing a 24% drop in Havilah's share price. Havilah's shares resumed trading on Wednesday at just 21 cents.

Michelle Ash, BHP's copper growth vice president, released a statement explaining the decision, indicating that BHP will redirect its efforts toward integrating OZ's Carrapateena and Prominent Hill copper mines with BHP's Olympic Dam mine and Oak Dam prospect in South Australia. She stated, "We believe that Kalkaroo is an attractive copper asset that will be developed, but our focus is on optimization of the Gawler Craton copper assets, specifically the West Musgrave nickel-copper mine near the WA border."

 

[Sean K]

BHP has decided to pull out of a deal with Havilah Resources (ASX:HAV), dealing a significant blow to the development of the Kalkaroo copper and gold project in northeastern South Australia. The decision has sent Havilah Resources' shares spiraling down by more than 20%.

BHP had initially acquired the Kalkaroo project through its $9.6 billion takeover of OZ Minerals last year. However, the company has now informed Havilah Resources that it will not exercise an option to acquire the Kalkaroo project, causing a 24% drop in Havilah's share price. Havilah's shares resumed trading on Wednesday at just 21 cents.

Michelle Ash, BHP's copper growth vice president, released a statement explaining the decision, indicating that BHP will redirect its efforts toward integrating OZ's Carrapateena and Prominent Hill copper mines with BHP's Olympic Dam mine and Oak Dam prospect in South Australia. She stated, "We believe that Kalkaroo is an attractive copper asset that will be developed, but our focus is on optimization of the Gawler Craton copper assets, specifically the West Musgrave nickel-copper mine near the WA border."

I think a lot of OZL’s junior exploration plays were destined for the bin. Too small for the big Australian. I think they’ve ditched NE Brazil already as well. West Musgrave is even looking crappy at the moment.

 

[Craton]

One can understand the BHP decision on the Kalkaroo project:

Kalkaroo is one of the largest undeveloped (my bold) open pit copper-gold deposits in Australia on a CuEq Ore Reserve basis.

As opposed to this posting on ICN Gateway regarding BHP and specifically Sth Aust.

Our South Australian Operations consist of three primary mine assets being Carrapateena, Prominent Hill and Olympic Dam, containing some of the world's most significant deposits of copper, gold and uranium.

Carrapateena produces copper concentrate and is one of the largest mining projects in South Australia in the last decade. The Carrapateena Operation is located 472 kilometers north-west of Adelaide, South Australia and is located on the traditional land of the Kokatha people.

Prominent Hill produces one of the highest grades of copper concentrate in the world. The Prominent Hill Operation is located 650 kilometers north-west of Adelaide, South Australia, and is located on the traditional lands of the Antakirinja Matu-Yankunytjatjara people.

 

[Dona Ferentes]

One can understand the BHP decision on the Kalkaroo project:

As opposed to this posting on ICN Gateway regarding BHP and specifically Sth Aust.

developed vs undeveloped, yep ... And while we think these are proximous, it's nearly 200km between mines.

HAV talk of development, but the pathway becomes more complicated

 

[noirua]

Havilah drills molybdenum up to 0.21% and gold at 4.79 g/t at SA's Kalkaroo

Havilah Resources Ltd has made a significant discovery of molybdenum through drilling at its Kalkaroo deposit in the South Australia.

themarketonline.com.au

Two reverse circulation holes drilled at the dome’s eastern flank yielded notable intercepts.