HAV has 339,256,296 SOI and 10,100,000 options in total
OZ was prepared to pay $205m plus a $65m contingent payment for a 30% increase to the Measured and Indicated Resource increase, plus another maximum $135m for a Cu linked contingent payment. That was $405m best case.
Note:- At the time of the OZ deal in May 2022 Cu price was around $4.13 we are now at a similar price and only in May Cu prices was north of $5
- The Kalkaroo ore body is open in all directions and any further drilling would easily increase the resource by the 30%
Rex Minerals sold for $393m with their Hillside Cu project similar in size to Kalkaroo but does not have the same exploration upside IMHO as Kalkaroo offers.
RIO sold 30% of their Cu project Winu for $399m to Sumitomo valuing the project at $1.3b
I believe the price for Kalkaroo alone is worth $350m so you do the numbers..
With Mutooroo proving up nicely to be another substantial economic resource, HAV should be worth well north of $1.20
Patience will be rewarded handsomely
(20min delay)