Divestment / Announcements

Last ASX Announcement 12/07/18, since then nothing

HIGHLIGHTS
• First transaction closed in the implementation of Havilah’s Copper Strategy – Enhanced by Cobalt.
• First payment of $1.0 million received.
• Havilah’s share of the Portia rehabilitation obligation funding of $1.2 million replaced by CMC.
• Current Portia 15% gold revenue stream remains until 30 November 2018.
• 15% gold revenue stream from the Portia gold mine on the current basis until 30 November 2018, when the oxidized ore in the Portia pit is expected to be mined out based on the current mine plan. At that time this interest will convert into the 2% NSR royalty.
• Havilah will receive guaranteed payments of $300,000 per quarter if the royalty payment is not at least $300,000 per quarter by 30 November 2020.
• Havilah maintains the first right to purchase any pyrite (contains cobalt) produced as a by-product from the production of copper and gold.
Havilah has no further exposure to rehabilitation liabilities on the ML.
• Havilah retains the exploration rights to the Bassanio IOCG target on the ML.
• To ensure mining and processing at North Portia can commence as soon as possible, Havilah has on-going responsibility to deliver the required permitting for the project, which is being actively pursued • Havilah will retain responsibility for payment of the Investec Group Portia success fee (This fee will only apply if production from Portia exceeds 50,500 ounces of gold in total and is capped at a total production of 80,000 ounces).

If they don't blow it all then near term cash is OK