Havilah Reports A$1.03M Exploration Spend, A$1.72M Cash, and Strong Project Progress

Strategic Focus on High-Value Projects

Havilah Resources Limited has delivered a robust quarterly update for the three months ended 30 April 2025, underscoring its commitment to advancing key polymetallic projects in South Australia’s Curnamona Province. The company’s flagship Kalkaroo copper-gold-cobalt project remains a focal point, with ongoing discussions aimed at monetizing an equity interest. Despite the absence of a definitive timeline for a sale, Havilah’s board remains optimistic, buoyed by recent copper and gold price rallies that have enhanced the project’s valuation.

Meanwhile, the Mutooroo project, a high-grade copper-cobalt-gold deposit near Broken Hill, has seen the completion of a JX Advanced Metals-funded study program. Metallurgical testwork confirms the ore’s amenability to efficient processing, and a scoping mining study suggests strong economic potential, particularly with resource expansion. Negotiations continue with JXAM to finalize an investment agreement, with plans to commence a pre-feasibility study by mid-2025.

Exploration Momentum and Regional Prospects

Beyond these advanced projects, Havilah has maintained active exploration across multiple prospects. Drilling at the Birksgate prospect has intersected significant copper-gold-molybdenum mineralisation, reinforcing the potential of skarn-style deposits in the region. Additionally, uranium exploration via Koba Resources and Heavy Rare Earths Limited partnerships has yielded encouraging assay results, including high-grade intercepts at the Everest prospect and detailed geophysical surveys at Radium Hill and Billeroo-Namba.

However, the company notes delays in commencing some regional drilling programs due to heritage and regulatory approvals, which have pushed back exploration activities by over three months. Despite this, Havilah plans to pursue a continuous news flow of exploration results and development updates throughout 2025.

Financial Position and Funding Strategy

Financially, Havilah closed the quarter with approximately A$1.72 million in cash and equivalents, having spent around A$1.03 million on exploration and evaluation activities. The company also holds strategic equity stakes in Koba Resources, Heavy Rare Earths, and FireFly Metals, collectively valued at over A$2 million, which provide additional liquidity options.

Recognizing the critical importance of securing funding to sustain its exploration and development agenda, Havilah is actively pursuing multiple avenues. These include potential asset sales, equity placements, and farm-in or joint venture agreements. The company’s ability to capitalize on the current commodity price environment will be pivotal in advancing its projects and unlocking shareholder value.

Outlook and Market Context

Havilah’s portfolio is well positioned to benefit from rising demand for copper, gold, and cobalt, metals essential to industrial production and clean energy technologies. The company’s strategic focus on monetizing Kalkaroo and advancing Mutooroo aligns with broader market trends favoring large-scale, polymetallic deposits in stable jurisdictions. Investors will be watching closely for updates on funding arrangements and exploration results that could materially impact Havilah’s valuation and development trajectory.