Havilah Reports High-Grade Gold-Copper Intercepts and Secures $2M Funding

Quarterly Highlights and Strategic Partnerships

Havilah Resources Limited (ASX, HAV) has delivered a robust quarterly update for the three months ending 31 July 2025, underscoring its commitment to advancing key copper-gold-cobalt projects in South Australia’s Curnamona Province. The company’s focus remains on progressing the Kalkaroo and Mutooroo projects, both of which are attracting strategic funding interest amid a buoyant copper market driven by electrification and supply constraints.

During the quarter, Havilah continued negotiations with potential partners to monetise Kalkaroo, a polymetallic deposit notable for its copper, gold, and cobalt resources. While the timing and terms of a transaction remain uncertain, management remains optimistic about achieving a fair value outcome that reflects the scarcity of large-scale open pit copper-gold projects in Australia.

Drilling Success at Mingary and Regional Exploration

Exploration activities yielded encouraging results, particularly at the Mingary prospect, where 12 reverse circulation drillholes returned some of the highest-grade and widest gold-copper intersections to date. Highlights include intercepts such as 89 metres at 1.48 g/t gold and 7.13 metres at 8.91 g/t gold, indicating significant mineralisation potential. These results support the prospect’s potential as a future feed source for processing at the nearby Mutooroo hub.

Regional exploration efforts also included drilling at the Johnson Dam prospect and other targets, with assays pending. The company’s ongoing work aims to expand its footprint across multiple promising prospects, maintaining a continuous news flow and activity pipeline through 2025.

Prospect Hill Earn-In and Funding Update

Post-quarter, Havilah entered a binding term sheet with Heavy Rare Earths Limited, granting earn-in rights for all minerals at the Prospect Hill project. This agreement provides a pathway to monetise the project’s substantial tin potential without upfront capital expenditure, while retaining significant exposure through Havilah’s shareholding in Heavy Rare Earths.

Financially, the company reported cash and cash equivalents of A$541,331 at quarter-end, following exploration expenditure of approximately A$1.2 million. Subsequent to the quarter, Havilah secured commitments for a non-underwritten share placement raising $2 million at $0.18 per share, providing essential working capital to support ongoing exploration and corporate activities.

Outlook and Market Context

Havilah’s outlook is underpinned by a positive medium- to long-term copper market outlook, driven by global electrification trends and constrained supply due to declining ore grades and limited new discoveries. The company’s strategy to advance pre-feasibility studies, secure funding partnerships, and expand exploration across its portfolio positions it well to capitalise on these market dynamics.

While assay delays remain a challenge industry-wide, Havilah’s disciplined approach to project advancement and capital management will be critical as it seeks to unlock value from its assets and deliver shareholder returns.