Not the announcement I was waiting for. Below info is sourced from the last couple announcements from Havilah and my commentary.
Havilah’s priority objective is completion of outstanding West Kalkaroo pre-development tasks required to commence development of the West Kalkaroo gold open pit during 2022 subject to a final investment decision by the Havilah Board, obtaining financing and final South Australian government approvals.
This has to be one of the most vaguely worded timelines I have seen announced by an ASX entity. Surely if development is 6-12 months away they can be a little bit more concise with their timelines and make it clear.
I can understand why they haven't set any timelines though, as they have missed many timelines in the past that they have set.
A financial model will be released in due course when more precise mining and plant
construction costs have been obtained and the model has been reviewed.
The above was released on the 17th May. 3 months later, still not even an update on when we can expect the financial modelling.
The PEPR document, which is the final permitting approval required for commencement of mining, was submitted to the DEM during March 2021. Thusfar, Havilah has had no feedback other than in relation to the calculation methodology of the rehabilitation bond, which it is in the process of addressing.If the document was submitted in March, we haven't heard any updates apart from the rehabilition bond In 5 months. No update as to when we can expect it to be approved or any feedback provided.
There was also mention in one of the quarterlies that it's in discussions with possible JV partners in regards to some of its projects which is a line used repeatedly by Havilah but no updates on the either which at this point I shouldn't be surprised.
The priority task continues to be evaluating the feasibility of the West Kalkaroo gold starter open pit, and completing all required permitting, with the objective of commencing mining development activities during 2021 (if feasible).
The above paragraph is from the capital raise announcement. Looks like the timeline was shifted from 2021 to 2022.
I see FMG has bought a strategic stake in candente copper who owns a copper project in Peru. Considering the resources HAV have and the fact they are substantially undervalued, the only reason I come back to as why a strategic partner/JV hasn't been orchestrated is the management.
Quality projects - Yes
JORC compliant substantial resources - Yes
Top tier jurisdiction - Yes
Undervalued - Yes
Right commodities for the EV future - Yes
So only reason why no JV or anything has been progressed is management.
All IMO and DYOR. Best of luck to all
(20min delay)