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Havilah Resources Ltd

Havilah Resources in trading halt with material funding transaction pending

The trading halt will remain until the start of ASX trading on Friday, May 3, or until an announcement is released.

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The company’s securities last traded at 15.5 cents

Havilah Resources Ltd (ASX:HAV) has news of a material funding transaction imminent and has been granted a trading halt.

The halt will remain in place until the start of normal trading on the ASX on Friday, May 3, 2019, or when the announcement is released to the market, whichever occurs earliest.

Adelaide-based Havilah is focused on a number of projects in South Australia’s northeast, near the border with NSW and the mining centre of Broken Hill.

These are the Kalkaroo Copper-Gold Project, Mutooroo Copper-Cobalt Project and an iron ore project encompassing the Grants and Maldorky deposits.

READ: Havilah Resources continues to progress Maldorky and Grants iron ore scoping study

The company is awaiting completion of due diligence and a scoping study by SIMEC Mining on the iron ore project.

This work is assessing the resource, project life, production, infrastructure and ultimately commercial viability of the project.

READ: Havilah Resources accepts terms and conditions proposed for Kalkaroo applications

At Kalkaroo, the company has recently accepted terms and conditions proposed by South Australia’s Department of Energy and Mining for three mineral lease and two miscellaneous purposes licence applications.

The proposed terms and conditions require the development of acceptable strategies to manage waste rock and tailings as well as surface and ground water, among other things.

READ: Havilah Resources seeks to enhance Mutooroo economics through new scoping study

Havilah is also seeking to enhance the economics of its Mutooroo project through a new scoping study.

Quick facts: Havilah Resources Ltd

Price: $0.14

Market: ASX
Market Cap: $29.46 m
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