HAV (ASX) News: HAV Havilah Resources Seeks Trading Halt

Originally posted by Glojay: ↑

IMO all you NO voters, nay sayers, "experts", gossip and hearsay dwellers have probably caused enough damage to this ship.
Interesting that no one seems interested in the Havilah statement released on 6/9. Probably doesn't sit well with your confirmation bias.

My favorite parts were these .....

Havilah has been made aware of a publicly disseminated communication by Dr Johnson sent to shareholders which contained a large number of misleading and deceptive statements.
Havilah rejects the content of that document as false and misleading.

It is more appropriate to apply long term sustainable metal pricing which is the normal practice for mining valuations.
The other reference by Dr Johnson to the value of the iron ore assets conveniently overlooks the fact that the agreed implied value of $120 million in the subscription agreement with GFG is only applicable after Havilah has spent $33 million over the next three years on those iron ore assets to increase their value. And yet he states “Share price appreciation unlikely” which is not logical.
The other references in the document are “cherry picking” the facts and do not tell the full story.

Havilah regrets the fact that Dr Johnson feels the need to put this sort of misinformation into the market and rejects it completely and would be grateful if Dr Johnson would advise the shareholders as to what his alternative plans are for Havilah.
Shareholders should also be aware that despite the Proposed Transaction with GFG being announced over four months ago, no other offers have been forthcoming. In fact, the only other offer received for Havilah’s iron ore assets to date was from a company called Braemar Logistics Pty Ltd (Braemar) back in October 2017. Braemar is owned and controlled by Dr Johnson, a shareholder of Havilah who has been very vocal in his opposition to the Proposed Transaction, including claiming that the Proposed Transaction undervalues Havilah. Dr Johnson’s offer for Havilah’s iron ore assets owned at the time was $2 million, most of which was deferred and required immediate transfer of all the relevant tenements to Braemar. That offer was firmly rejected by all directors at the time.
In order to develop our mineral deposits, including Kalkaroo, Copper Aura and Iron Genesis, significant capital expenditure is required. GFG will not only provide the funding to get Copper Aura and Iron Genesis to completion of the Definitive Feasibility Study phase but could well be a large funding contributor in the development of these projects, including Kalkaroo. In the future, GFG will be a potential buyer of Havilah’s iron ore and provide access to international markets and capital. We believe that Havilah’s projects, along with its exploration potential, deserve the right to be developed to value add not just for Havilah shareholders, but also via job creation and other flow on benefits to the state of South Australia.Who will be held accountable when if a No vote succeeds and it all turns to shit ? The behaviour of Johnson is borderline illegal.
Get your YES votes in now before this ship goes under.

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