For personal use only - Australian Securities Exchange
31 Flemington Street Glenside 5065 South Australia phone 61 8 8338 9292 fax 61 8 8338 9293 email info@havilah-resources.com.au ABN 39 077 435 520 For personal use only HAVILAH RESOURCES NL ASX / Media Release 16 December 2014 Annual General Meeting Managing Director Presentation Havilah Resources NL (ASX: HAV) (“Havilah” or the “Company”) is pleased to lodge the presentation that Dr Chris Giles, Havilah’s Managing Director, is to present at Havilah’s AGM today. The presentation will also be available on the Company’s website at www.havilahresources.com.au. Mr Walter D. Richards CFO & Company Secretary For further information visit the Company website www.havilah-resources.com.au or contact: Dr Chris Giles, Managing Director, on: info@havilah-resources.com.au. www.havilah-resources.com.au For personal use only Mining to Commence in 2015 AGM 2014 Technical Presentation Dr Chris Giles Managing Director For personal use only Disclaimer • • • • The information contained in this presentation is not financial product advice. The presentation is for information purposes and is of a general and summary nature only. Havilah Resources NL (Havilah) nor any member of the Havilah Group of companies, gives no warranties in relation to the statements and information in this presentation. Investors should seek appropriate advice on their own objectives, financial situation and needs. This presentation contains certain statements which may constitute “forward-looking statements”. Such statements are only predictions and are subject to inherent risks and uncertainties which could cause actual values, performance or achievements to differ materially from those expressed, implied or projected in any forward looking statements. Havilah disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. Investors are cautioned that forward-looking statements are not guarantees of future performance and investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Competent Person Statement The information in this presentation that relates to Exploration Targets , Exploration Results, Mineral Resources and Ore Reserves is based on data compiled by geologist, Dr Chris Giles, a Competent Person who is a member of The Australian Institute of Geoscientists. Dr. Giles is a director of the Company and is employed by the Company on a consulting contract. Dr. Giles has sufficient experience, which is relevant to the style of mineralisation and type of deposit and activities described herein to qualify as a Competent Person as defined in the 2012 Edition of ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr. Giles consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears. This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. For personal use only Milestones achieved during 2014 Portia gold mining approval granted. Terms of a mining contract for Portia substantially finalised on a shared risk / shared profit basis. Maldorky iron ore mining lease proposal approved. Public exposure period ended and public comments being addressed. Kalkaroo copper-gold mining lease proposal approved for public exposure and comment. Acquisition of Kalkaroo station – effectively securing land access for future Kalkaroo mine development. For personal use only Corporate achievements during 2014 Oversubscribed rights issue raised $5m with more than 700 shareholders participating in the issue. Bolstered management capabilities with employment of new experienced personnel, namely • Company secretary and CFO - Walter Richards • Environmental manager - Andrew Woidt Amalgamated expenditure agreement with DSD, allowing Havilah to spread expenditure over all of its tenements and so help to retain them Committed to a new shareholder communication program with Phillip Capital, who have extensive links in Asia. For personal use only Technical achievements during 2014 Successfully completed a complex dewatering and water injection testing regime at Portia necessary to obtain the mining approval. Successfully completed major extended pump tests at Maldorky to determine the groundwater parameters as required for completion of the MLP and PEPR, plus pilot scale metallurgy tests. MMG exploration partner drilled 25 diamond drillholes, spent more than $3m and made new copper discoveries at Croziers and Birksgate and confirmed extensive copper mineralisation at Eurinilla. Comprehensive modelling of various mining scenarios for all projects and development of scoping financial modelling studies . For personal use only Portia Gold Project- Havilah’s First Mine Intensive work effort all year, mainly on dewatering, tailings dam design and water injection to satisfy regulators requirements. Full mining approvals received in October 2014 A 50:50 revenue sharing mining contract substantially finalised (but not yet signed) with the mining contractor responsible for funding and carrying out all mining operations and delivery of gold ore to the surface stockpile and Havilah responsible for ore processing and production of gold dore. Havilah will not require a capital raising to meet its processing responsibilities and risk to shareholders is limited, while upside is intact. Havilah stands to receive substantial gold sales income in 2016. Project location For personal use only 8,000km2 ground holding For personal use only Portia open pit mine plan *67,000 oz JORC Inferred resource in Tertiary clay Weathered bedrock Patchy high grade gold mineralisation in bedrock 26 metres of 15.4 g/t Au 13 metres of 33.5 g/t Bedrock * based on an Inferred Resource of 720,000 tonnes @ 2.9g/t at a 60g/t cutoff, released to ASX on 26/06/09 Portia processing plant key components For personal use only Lease agreement with right to purchase in place Twin 50 tph In-line Jigs with Spinners for heavy mineral and gold separation 120 tph Trommel for washing ore For personal use only Portia Mine Planning Water injection test work For personal use only Low Capital Starter Open Pit Option Starts on highest grade and shallowest native copper and gold ore at Western end of deposit. Est. $70- $100m startup capex and thereafter self-funding. Slower route, but advantage is that future expansion of mine is largely funded by cashflow and reduced development risk.by operating For personal use only Kalkaroo site layout For personal use only Acquisition of Kalkaroo station A major step forward in the Company’s strategy to reduce risk and clear the path for development of the Kalkaroo copper-gold project. For personal use only Maldorky Extended Pump Test A major undertaking successfully completed by Havilah with good data collected New Copper Discoveries by MMG For personal use only . MMG (Minmetals) JV - $12m over 5 years exploring for large copper deposits 8,000 km2 tenements Ten prospective domes 100% owned by HAV Birksgate Copper Discovery Croziers Dam Copper Discovery For personal use only MMG Exploration – Birksgate copper discovery From downhole interval containing 10.9m @ 0.84% copper and 0.64 g/t gold from 209m in diamond drillhole BRK14DD001A. (as released to the ASX on 17/10/14) For personal use only MMG Exploration – more copper at Eurinilla From downhole interval containing 6m @ 5.3% Cu from 157m in diamond drillhole EUR14DD009 (as released to the ASX on 21/01/14) For personal use only Strategic objectives for 2015 Complete the transition to miner Portia open pit gold mine - expect to reach ore zone by mid 2016. Advance Kalkaroo towards mining stage - mining lease proposal, PEPR, native title mining agreement. Complete PFS study for Maldorky iron ore project – metallurgy, processing flow sheet, mining lease proposal, PEPR, native title agreement. Complete mining lease proposal for Mutooroo project – compile all information, establish a viable mining and processing plan. Seek investment partners – on suitable terms to help with development of Havilah’s mineral projects and marketing of product. Improve Havilah’s market recognition and corporate profile – encourage buyer interest in order to restore share price to acceptable levels For personal use only Outlook for 2015 Mining industry at the junior end and contractors will remain very difficult. Gold is a bright spot, with the falling A$ helping returns. Copper is a longer term story as consumerism grows in developing economies and demand picks up without increasing supply. Havilah is well positioned - mining gold with the prospect of substantial income in 2016 and Kalkaroo copper-gold development to follow thereafter. Iron ore we expect will improve mainly because of demand for high quality product and steel mills desire to diversify supplies away from monopoly producers. Aim to fully permit the Maldorky project to “investor” ready status. For personal use only Thanks to our staff Successful outcomes are achieved by hard work, persistence and patience Our staff have worked incredibly hard this year to achieve these results. Particular mention of : Jared Murray – mining engineer and operations manager – responsible for Portia approval and driving Kalkaroo MLP. Supported by our longest serving employee, geologist Traviss Just and consultant mining engineer, Alan Burgess and field and office support staff. Geoff Stolz – geologist responsible for compilation of Maldorky MLP and recent groundwater test work. Lucie Price – geologist and outstanding tenements manager. Walter Richards – accountant responsible for successful rights issue, annual report, streamlining reporting and accounting procedures. Thanks to our shareholders – who have watched their investment shrink and who have had faith that we are working hard in their best interests and have mostly spared us harsh criticism. We trust Havilah’s fortunes will turn as it executes its mining development plans.
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