Ann: Quarterly Activities Report, page-2

Havilah’s available-for-sale investment of 4,916,667 ordinary shares in ASX listed Auteco Minerals Ltd (previously Monax Mining Limited) increased to A$860,416 (31 July 2020: A$34,000) based on its last traded price (ASX: AUT) on 31 July 2020 of 17.5 cents.

IMO, none of the above value is represented in HAV's current share price.

These 4,916,667 ordinary shares were originally acquired when Havilah sold some of its mineral tenements to Monax Mining Limited during 2005.

Per page 64 of Havilah's 2019 Annual Report, this AUT investment is held for 'strategic' rather than 'trading' purposes. Havilah said in today's Activities Report that it considers it a 'non-core' investment.

Auteco Minerals Ltd has gold exploration tenements, including an interest in the Pickle Crow gold project in Canada. The shares have been on a tear based on publication of a maiden JORC Mineral Resource. Assay results are expected soon from the current DD drilling campaign (it has 3 DD drill rigs in operation now at Pickle Crow).

At some stage, Havilah will exit this investment and put some coin in the bank.

Cheers

These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.