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Highlight

  • Havilah continues talks with potential partners to fund and monetise its flagship Kalkaroo copper-gold project amid elevated copper prices.
  • The company is negotiating terms with JX Advanced Metals for future investment in the Mutooroo project following positive study outcomes.
  • Exploration activities are underway or planned at multiple regional prospects, pending permitting and funding availability.

Havilah Resources (ASX:HAV) is an Australian mineral exploration and development company with a focus on copper, gold, cobalt, and uranium assets in South Australia. The company’s core projects include Kalkaroo and Mutooroo, along with a portfolio of regional exploration targets.

The Company has provided an update on its project development and exploration activities for the March 2025 quarter, outlining advancements across its Kalkaroo and Mutooroo projects, as well as regional exploration efforts. The company is currently focused on securing strategic partnerships and funding to support its portfolio of copper, gold, cobalt, and uranium assets in South Australia.

The company reported continued interest in its flagship Kalkaroo copper-gold-cobalt project, where discussions are ongoing with potential strategic partners. Kalkaroo hosts an open-pit resource of approximately 3.1 million ounces of gold and has attracted attention in the context of rising global copper prices and recent copper project transactions. Havilah aims to monetise a project-level equity interest in the asset as part of its strategic funding objectives for 2025.

Progress was also noted at the Mutooroo copper-cobalt-gold project. Following positive results from a recent study program, Havilah is negotiating an agreement with JX Advanced Metals Corporation (JXAM). This proposed arrangement would involve JXAM funding a pre-feasibility study and potentially securing an option to acquire a stake in the project, subject to the study outcomes.

On the exploration front, the company has been conducting permitting and site access activities at multiple regional prospects, including Johnson Dam, Croziers, Birksgate, and the historic Mingary Mine. These efforts are intended to enable drilling programs to proceed over the coming months. Havilah expects ongoing exploration activity throughout 2025, contingent on funding, equipment availability, and regulatory approvals.

In uranium exploration, Koba Resources reported significant assay results from initial drilling at the Everest prospect, which is adjacent to Boss Energy’s Jason deposit. Meanwhile, Heavy Rare Earths completed passive seismic and airborne surveys to identify uranium-hosting structures at Lake Namba-Billeroo, Prospect Hill, and Radium Hill areas where Havilah holds exploration interests.

During the quarter, Havilah also participated in the Association of Mining and Exploration Companies (AMEC) investor briefing in Adelaide, where it presented updates on its development strategy.

Havilah’s stated objectives for 2025 include finalising investment terms for Mutooroo, executing a transaction to monetise a stake in Kalkaroo, and advancing exploration on several regional prospects.

HAV shares were trading 5.41% lower at AUD 0.18 per share at the time of writing on 30 May 2025. On a year-to-date basis, the share price has declined by approximately 20.45%.