Ann: Havilah Secures Funding of up to $100M from GFG Alliance, page-67

"That Giles let this happen beggars belief".

I'm assuming that Giles is already independently wealthy. Therefore, it could be that whether his 20% state in HAV is worth $6 million, $60 million or some other number is possibly not going to make much difference to Giles and the day to day lifestyle he leads and that of his kids.

I'm starting to get the the impression that HAV to Giles is becoming more about personal accomplishment than shareholder's best interests.

By this I mean does Giles care less about what is the best financial outcome for shareholders, and more about what discoveries he can say that he found and that he was part of the team that saw them into production?

Is this deal and what has prevented other deals more about what control and influence Giles has?

For example, in this deal, it appears Gupta cares about iron ore and copper and is willing to put up funds to explore and further progress Grants and Mutooroo. In this case, why didn't HAV structure a farm in arrangement where SIMEC earns percentage for the $ spent on each of these projects? Perhaps because if SIMEC was the one funding the farm in arrangement, then they would be the team leading the exploration and could leave Giles out of a position where he feels he could claim the discovery personally?

I have wondered the same when it comes to Jupiter. When that was announced everyone seemed very excited and there were plans to get a JV partner to drill that prospect. It's been on the Board's scorecard for some time to get a JV partner and there have been comments that there were interested parties wanting to JV. But once again, did the one paying for the exploration want to say what, when, where and how to drill - and therefore Giles would feel like he did not make the discovery. Does he wish to be the one to put that first drill hole into Jupiter?

Is it important to Giles to feel like he is more than a geologist that makes discoveries, but someone that can mine them too? Does he want to feel like a miner? Why does HAV still have as the first pinned tweet on its twitter account, a post from February 2017 (two years ago) titled "A Day In The Life Of The Portia Gold Mine"? We don't even own the mine any more. Has HAV not been able to sell Kalkaroo because Giles wants to see Havilah's name on the mine or being part of the mining JV - as opposed to getting some cash upfront and a royalty?

I acknowledge that this is my thoughts only, but a growing concern of mine. I respect Giles greatly as a geologist, but am starting to question other decisions that are being made by HAV.