Ann: Half Yearly Report and Accounts, page-2

"During the financial half-year Havilah has made significant progress on achieving the above objectives, as summarised below, with references to several of its key assets."

While Havilah states that significant progress has been made toward its stated objectives during the financial half-year, the supporting evidence largely references legacy milestones or external developments. These include a 2018 JORC resource for Kalkaroo, a 2023 study undertaken by Oz Minerals and BHP, undisclosed ongoing discussions (which could be anything), and third-party benchmark comparisons that did not involve Havilah personnel. Additionally, rising commodity prices, though favourable, are market driven and not attributable to the company's actions this year.

It continues to remain unclear what tangible work has been completed by Havilah staff during the past six months, raising questions about how progress against current-year KPIs is being measured and reported.