It's interesting to hear Dr. Giles' thoughts on takeover...

It's interesting to hear Dr. Giles' thoughts on takeover options, given the speculation surrounding why OZL did not make a takeover bid for HAV.

Below are some of Dr. Giles' direct quotes taken from a M iningnews. net interview last week.

"Havilah is not for sale for $50 million,"
"Major shareholders and founders (including myself) have a substantial holding (around 40%) so they will not accept a low ball offer.
"We are resolved to patiently deal the Monopoly board of assets that Havilah has accumulated over the years and put money back into our poor, long-suffering shareholders' pockets.
"This is the start of that process - a few more to go yet."
"Havilah's "Monopoly board" includes the nearby Mutooroo copper-cobalt-gold resources and iron ore resources at Maldorky and Grants.
It has also been planning to spin out uranium interests into a separately listed vehicle."

IMO the SP has a quite bit to run yet (off this deal alone), especially when considering that the $205 million option exercise price equates to about 66 cents per share and then on top of that there are the two contingent payments of up to $200 million, PLUS HAV's other projects and exploration areas that it retains 100% ownership of.

Reading between the lines, Dr. Giles has made it pretty clear that HAV will not be sold for anything less than its true value and nobody will be able to squeeze SH's out cheaply - this is in stark contrast to the previous BOD who made an absolute mess of the Gupta deal (proposing to sell HAV for chump change).

Exciting times to be a HAV LTH!

My 2cents,
JDI