Havilah Resources Entitlement Offer Shortfall Update

Havilah Resources Limited (ASX:HAV) has received binding commitments of $2,107,640 to subscribe for the Shortfall from the recent Entitlement Offer, completing the successful capital raising. The total amount sought in the Entitlement Offer, $4.07 million (before costs), will be raised, with 22,617,086 new fully paid ordinary shares to be issued.

Executive Commentary

This completes a successful capital raising in which over 250 shareholders participated. The majority of the proceeds will be directed towards strategic exploration drilling on extremely promising copper prospects in the vicinity of Havilah's Kalkaroo and Mutooroo copper projects. We have a drilling rig operating at the Croziers prospect north of Kalkaroo and this funding will ensure the continuation of our current exploration program, which also includes drilling on other targets identified by our geological team over the last 2 years.

Summary

Havilah Resources Limited (ASX:HAV) has successfully secured commitments for the Entitlement Offer Shortfall, raising a total of $4.07 million. The proceeds will primarily fund strategic exploration drilling on highly promising copper prospects near the Kalkaroo and Mutooroo copper projects. The company's Chairman, Simon Gray, highlighted the importance of this funding in ensuring the continuation of their current exploration program, including drilling on other identified targets. This development reflects Havilah's commitment to advancing its copper-gold-strategic metal prospects and signifies a positive outlook for the company's ongoing exploration activities.