The imminent expiry of HAVOB options together with the coming expiry of HAVO options will deprive Havilah Resources of over $20m cash for exploration/development funds. It must be disheartening for our current directors that they could not get these options "over the line". Now, without funds, or the means of raising any from shareholders, it looms as a logical conclusion that Havilah will be required to sell down its assets in order to find the cash to keep itself actively in the game. I would expect that the new board will "grab the bull by its horns" and monetize assets in order to keep us operative. It's a good strategy and will ensure that all shareholders receive a handsome payout from the sale of Kalkaroo and provide more than adequate cash for our exploration requirements. An article in last weekend's Financial Review outlines the sorry saga of the Havilah board stoush and concludes with the statement of "bring on August 28". I concur with this view and await most eagerly for our new management regime. This is an exciting time for our company and marks a definitive turning point in the fortunes of all shareholders. Of course, it's vital to any potential bidder that the 20m HAVO options expire out of the money on 30/10/2013 before anything monumental is decided. Offers for our assets will factor in a shareholder base of just 120m shares.
HAV Price at posting:
32.0¢ Sentiment: Hold Disclosure: Held
