Ann: Quarterly Activities Report - Period Ending 31 July 2018, page-9

"But the question I have, what did HAV Management give up to get this?"

The drilling cost is almost certainly not material to Simec/GFG Alliance and it could well be that they are funding the drilling in order to determine, in a timely manner, whether Grants Basin is capable of supporting their broader business objectives & to help in their own strategic planning. I.e just a logical extension to what's already going on between the companies.

If there was anything more formal that that, i.e something that specifically had a material impact on HAV's interests, then surely it would have to be subject to a formal ASX announcement?

Still, it's curious it's tucked away on page 8. I would have thought it may well have been worthy of it's own release considering the potential impact of a discovery as well as the fact that it's contributing to HAV tenement expenditure obligations.