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Havilah Resources (ASX:$HAV) engages Deutsche Bank for Kalkaroo Project sale process

Havilah Resources 2023 Annual General Meeting Address


Havilah Resources Limited (ASX:$HAV) Executive Chairman, Mr Simon Gray, addressed shareholders at the 2023 Annual General Meeting, highlighting the company's pursuit of maximizing the value of its multi-commodity minerals portfolio and potential monetization of its mineral assets. The company reported a cash balance of $3.8 million as of 29 November 2023, which will fund planned activities into the current financial year.

Executive Chairman's Commentary on 2023 Activities


During the year, Havilah continued its efforts to maximize the value of its mineral portfolio and explore opportunities for monetizing its assets. The company's Kalkaroo Project, subject to a Call Option agreement with BHP, has seen progress and positive outcomes. Despite BHP's decision not to exercise the Kalkaroo Call Option, Havilah remains committed to monetizing the project and has engaged Deutsche Bank to assist in the sale process. The company has also received interest from several parties, indicating potential opportunities for the Kalkaroo Project. Additionally, strategic alliance drilling in the surrounding exploration tenements has identified promising multi-commodity mineralized prospects, with the potential for a significant discovery that could enhance the development economics and extend the project's life. Havilah's exploration activities in other project areas, such as the Birksgate prospect and Mutooroo Project Area, have shown encouraging results, with the intention to seek joint venture partners for further development. The company is also actively pursuing options to realize value from its uranium assets, considering the renewed investor interest in uranium. Furthermore, the declaration of copper as a critical mineral by the South Australian government and the potential surge in demand for copper from the global renewable energy transition bode well for the company's copper assets. The Board remains optimistic about the long-term prospects for copper and believes that Havilah has made significant advancements in maximizing the value of its mineral assets for the benefit of shareholders.

Summary of 2023 Activities and Outlook


Havilah Resources (ASX:HAV) has made substantial progress in advancing its objective of maximizing the value of its mineral portfolio and potentially monetizing its assets for the benefit of shareholders. Despite BHP's decision not to exercise the Kalkaroo Call Option, the company remains committed to monetizing the Kalkaroo Project and has engaged Deutsche Bank to assist in the sale process, with interest already received from several parties. The strategic alliance drilling has identified promising mineralized prospects, offering the potential for a significant discovery that could enhance project economics. Additionally, exploration activities in other project areas have shown encouraging results, with plans to seek joint venture partners for further development. The company is also actively pursuing options to realize value from its uranium assets, considering the renewed investor interest in uranium. The declaration of copper as a critical mineral by the South Australian government and the potential surge in demand for copper from the global renewable energy transition provide a positive outlook for the company's copper assets. The Board remains optimistic about the long-term prospects for copper and believes that Havilah has made significant advancements in maximizing the value of its mineral assets for the benefit of shareholders.

Sourcehttps://announcements.asx.com.au/asxpdf/20231220/pdf/05yrsnmrx2m318.pdf

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