Tag: Havilah Resources

SOUTH Australian gold miner Havilah Resources’ (ASX: HAV) non-executive directors Mark Stewart and Martin Janes have resigned. The announcement comes following the company’s Extraordinary General Meeting (EGM) on September 12, when a proposed investment in Havilah of up to $100m by SIMEC was vetoed by the company’s technical director and majority shareholder Chris Giles, through his privately-owned business Trindal, even though the offer had not been blocked by shareholders. In a statement, Mr Stewart and Mr Janes said that they were blindsided by Dr Giles, who had previously given his support for the investment. “The investment was rejected despite the Independent Export Report concluding that ‘the position of Shareholders if the transaction is approved is more advantageous than the position...

Q. Can you please tell me how the capital injection of up to $100m from OneSteel Manufacturing will impact Havilah’s iron ore assets and copper prospects? This proposed investment in Havilah by GFG Alliance will see Havilah’s work programs for its iron ore assets and its copper prospects in the Mutooroo Copper- Cobalt District, including the Mutooroo deposit, being fully funded through the completion of definitive feasibility studies. This will allow Havilah to make decisions about investing in the development of the projects and potentially transforming them into actual mining operations. Funding is an ongoing challenge for many junior explorers but this strategic alliance with GFG presents an opportunity for Havilah to advance its work programs to the benefit of...