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Havilah Resources Limited (ASX:HAV)

ALERT: Price-sensitive ASX Announcement for HAV
Current share price for HAV : $0.785 0.18 (29.75%)+
Announcement
Release
21 May 2026 8:45AM
Price at Release
$0.605
Full Release
download
Summary
Hillgrove Resources Limited and Havilah Resources Limited have entered into a binding agreement to form a partnership for the development of the Mutooroo Copper Project in South Australia. The arrangement involves a farm-in agreement where Hillgrove can earn an 80% interest in Mutooroo by completing a pre-feasibility study (PFS) and meeting certain conditions, including a $5 million upfront consideration in shares. Hillgrove will invest up to $10 million over 24 months, with the PFS assessing the viability of processing Mutooroo ore at Hillgrove's Kanmantoo facility. The project aims to leverage existing infrastructure to minimize capital expenditure and reduce execution risk. This partnership aligns with both companies’ strategic interests, offering Hillgrove a low-risk growth opportunity in copper production and providing Havilah a potential accelerated pathway to project development.
Key Points
  • Hillgrove and Havilah enter into a farm-in agreement for Mutooroo Copper Project.
  • Hillgrove to earn an 80% interest in Mutooroo by completing a PFS.
  • Hillgrove's investment includes $5 million upfront in shares and up to $10 million over 24 months.
  • The PFS will evaluate processing Mutooroo ore at Kanmantoo.
  • Partnership aims to leverage existing infrastructure to reduce costs and risks.
  • Both companies see strategic benefits in the partnership.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.