Havilah Resources Limited (‘Havilah’) listed on the Australian Securities Exchange (‘ASX’) during March 2002, sponsored by its two founding shareholders, geologists Dr Bob Johnson and Dr Chris Giles. Since then, the funds entrusted by shareholders have been used to carry out highly successful exploration drilling programs in the northeast of South Australia that have generated the Company’s current 1.3 million tonnes of copper, 3.2 million ounces of gold, 43,400 tonnes of cobalt and 451 million tonnes of iron ore in JORC Mineral Resources.
On 30 March 2015 Havilah commenced its first gold mining operation at the Portia gold mine, and poured first gold during April 2016. Havilah financed and developed Portia and repaid the $4 million loan to build the processing plant within the first year. Havilah profitably operated Portia for two and a half years before selling the Mining Lease to Consolidated Mining and Civil Pty Ltd, Havilah’s mining contracting partner. This transaction will net Havilah $10.8 million in cash payments and an ongoing 1.5% NSR royalty from the planned North Portia copper-gold mine and remaining Portia gold production. To date $7 million has been received in cash payments and Havilah’s $1.2 million mine rehabilitation liability has been extinguished.
First bite at Portia, 30 March 2015
Following the sale of Portia, Havilah focused on completing a PFS and all permitting approvals for the West Kalkaroo oxidised gold ore open pit and that would later transition to the much larger Kalkaroo sulphide project that is expected to have a mine life of over 15 years. These plans were put on hold with the advent of the Approved Transaction with OZ Minerals under which OZ Minerals is presently undertaking a comprehensive Study Program to update the PFS to determine whether to exercise the Kalkaroo Option and purchase 100% of Kalkaroo for a sum of $205 million (plus potentially additional contingency payments).
Over the years Havilah has patiently and systematically accumulated more than 16,000 square kilometres of some of the most prospective Precambrian geological terrain in Australia, which its geologists believe could yield many new discoveries in future years. Regional exploration of Havilah's tenements is being funded by OZ Minerals under the Strategic Alliance.
Early resource drilling at Kalkaroo
Dr Chris Giles, one of the original founding shareholders, still retains all of his original shares via Trindal Pty Ltd and has supported the Company in its entitlement issues over the years. As a substantial shareholder Trindal Pty Ltd’s interest is closely aligned with other Havilah shareholders.
Havilah shares a mission, vision and values with all of its employees, who represent the Company in its business dealings.
Havilah’s mission is to sequentially develop its portfolio of gold, copper, iron, cobalt and other mineral resources in South Australia. It aims to build on its successful exploration track record by making new value-adding discoveries.
Havilah’s vision is to become a new mining force in South Australia, delivering value and tangible benefits to its shareholders, partners and the community in which it operates.
Havilah’s values are at the core of its business and defines who it is, how it works, what it believes in and what it stands for.
Values guide how the Company acts and provide the foundation for all decision making.
Unashamedly Ethical in all of our business dealings.
Honesty and Integrity in all of our actions.
Respect for all those whom we interact with.
Loyalty to our employees, shareholders and business partners.
Commitment to safety, our social responsibility and our objectives to see them successfully completed.
Passion for whatever we do, and to do it in the best way we know how.
Open Communication and Clear Expression of all we do.
Long term sustainability in all we do, including minimising negative environmetal impacts.
Contributing to the well-being of all stakeholders where possible, incuding local communities