- Gold and copper explorer Havilah Resources (HAV) has entered a trading halt while it finalises the details of an upcoming capital raise
- Over the past few months, Havilah and the University of South Australia have been assessing the potential for rare earth elements at its Kalkaroo Project in South Australia
- Technical Director Dr Chris Giles says the company is interested in producing a valuable by-product, however, its focus remains on the Kalkaroo Project
- At this stage though, it is unclear how much Havilah will raise or what the funds will be used for
- Company shares last traded for 21 cents on Wednesday, November 12
Havilah Resources (HAV) has entered a trading halt while it finalises the details of an upcoming capital raise.
Shares will remain in a trading halt until Monday, November 16, unless details of the raise are announced earlier.
Havilah Resources is a gold and copper exploration company focused on South Australia.
Over the past few months, Havilah has been collaborating with the University of South Australia’s Future Industries Institute to conduct research studies on the nature of rare earth element (REE) mineralisation at the Kalkaroo Project.
This follows the discovery of REE potential earlier this year at the Curnamona Craton tenements in northeastern South Australia.
Highly elevated REE results were returned with the primary REE-hosting mineral being bastnasite.
“Havilah’s main focus is getting the Kalkaroo copper-gold project underway, but if we can produce a valuable REE by-product for little additional cost and effort it could provide an economic advantage for the Kalkaroo Project compared to those projects that are solely reliant on REE,” Technical Director Dr Chris Giles said.
At this stage, it is unclear how much Havilah will raise or what the funds will be used for.
Company shares last traded for 21 cents on Wednesday, November 12.