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SHARE PURCHASE PLAN (SPP)

Provides opportunity to purchase new shares at $0.17

SUMMARY

Havilah's Share Purchase Plan (SPP) allows shareholders to purchase up to $30,000 worth of new Havilah shares at $0.17 each, a 19% discount to the last pre-announcement trading price of $0.21.

Funds raised will allow Havilah to execute a value adding work program over the next twelve months, taking advantage of the  current buoyant commodities market sentiment.  

PLACEMENT AND SPP ENSURES HAVILAH'S WORK PROGRAMS ARE FUNDED UNTIL THE END OF 2021. 

Havilah has launched a Share Purchase Plan (SPP) to raise $2 million from ‘eligible shareholders’.

This follows on from its oversubscribed Placement that raised $2.55 million.

The SPP provides ‘eligible shareholders’ the opportunity to acquire up to $30,000 worth of new shares at $0.17 each, the same price as the Placement.

Funds raised will be applied to advance Havilah’s key projects, to carry out exploration and in meeting tenement and other administration costs through to the end of 2021.

USE OF FUNDS RAISED

SHORT TERM OBJECTIVES

West Kalkaroo gold starter open pit – priority objective

 

• Advance feasibility study and permitting work with the aim of commencing gold mining development activities during 2021.

• Ongoing resource infill drilling and resource expansion drilling along major mineralised fault zones.

• Continuation of collaborative research to determine the best recovery options for REE from West Kalkaroo oxidised gold ore.

 

Mutooroo copper-cobalt-gold project

• Advance PFS work, which will include a major component of additional resource drilling and process plant design and testing.

 

Iron ore assets

• Advance mining scoping study for an open pit at Grants Basin with minimal overburden and waste (iron ore outcrops at the surface).

• JORC resource delineation drilling at Grants Basin in support of the scoping study (delayed until 2021 due to recent flooding in the area).

• Detailed testing of cost-efficient dry ore processing methods using representative iron ore samples.

 

Regional exploration

• Many high conviction regional exploration targets that could lead to new discoveries.

> Croziers copper-tungsten-REE prospect: Right geology, four previous exploration drillholes each with ore-grade intersections.

> Mutooroo copper-cobalt-gold: Follow-up ore-grade copper in 1960’s drillholes and very high copper/cobalt surface geochemical anomalies.

>Jupiter MT anomaly: Follow-up MT survey during 2021 to define major fault zone and initial high risk, high reward drilling target.

 

Corporate

• Corporate overheads have been greatly reduced, but significant fixed costs such as share registry and ASX listing fees remain.

• Substantial costs to maintain Havilah’s 16,000 km2 tenement area (>$500,000 per annum).

Funds raised will be prudently invested to generate positive shareholder returns

USE OF FUNDS RAISED

LONG TERM OBJECTIVES

Large scale Kalkaroo copper-gold-cobalt project development

 

• Havilah retains a high degree of optionality as the large scale Kalkaroo copper-gold sulphide production could potentially be ramped up at any time if the required capital became available (A$332 million start up capex).

• Investment partner or buyout might be possible in a favourable copper market.

• Potential unquantified by-product REE, cobalt and/or moly sales could generate additional revenue.

 

 

Mutooroo copper-cobalt-gold project

• PFS leading ultimately to a mining investment decision.

• Mining hub concept drawing in many potential local ore sources from the surrounding Mutooroo Copper-Cobalt District.

 

Iron ore assets

• An initial low capex mining development seeking to utilise the Port Playford transshipment facility and existing rail capacity.

• Progressively increase production capability from vast iron ore resources in the region.

• Pelletisation is a future value adding possibility.

• Requires low water usage and likely locally generated renewable energy from abundant sunlight and wind.

 

 

Regional exploration

• Apply extensive local geological knowledge to make new value adding discoveries in a variety of geological settings.

• Against the background of a large highly prospective tenement holding (>16,000 km2) and an excellent track record of exploration success.

Maximising the value from Havilah’s multi-commodity minerals portfolio

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ANNUAL REPORT 2020
QUARTERLY ACTIVITIES
REPORT & CASH FLOW REPORT 
 
- PERIOD ENDED 31ST OCTOBER 2020
Technical Review AGM 2019

KALKAROO

MUTOOROO

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PROSPECT HILL

EXPLORATION

RARE EARTH ELEMENTS (REE)

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ADDRESS

PO BOX 3

Fullarton, 5063

South Australia, Australia

ABN: 39 077 435 520

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