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Havilah Resources considers its options for copper-cobalt-gold project

Kalkaroo's copper equivalent Ore Reserve is the largest in Australia.
Chart showing peers copper resource sizes
Kalkaroo deposit compared with ASX peers’ copper deposits

Havilah Resources Ltd (ASX:HAV) has turned its focus to considering development options for the Kalkaroo copper-cobalt-gold project in far east South Australia.

This comes after a period of exclusivity with Wanbao Mining lapsed on June 30 allowing Havilah to be free to engage with all other parties who have expressed an interest.

READ: Havilah Resources sampling confirms strong cobalt results at Mutooroo

The pre-feasibility study (PFS) received that was based on the scope of work as defined and funded by Wanbao, is still in draft form.

On-going PFS work by Havilah to optimise the project economics is expected to be completed by the end of 2018.

Havilah’s CEO Walter Richards said: “I would like to record our thanks to Wanbao for its support to date and for its positive engagement during the PFS process.”

Largest open pit copper equivalent deposit in Australia

Richards added: “Havilah is in the fortunate position of owning 100% of the largest open pit copper deposit in Australia on a copper equivalent ore reserve basis, at a time when there is a shortage of good quality copper development projects in the world ahead of a predicted surge in the usage of copper.

“There is significant upside in the already attractive robust project through improved gold recoveries, inclusion of cobalt, and resource expansion opportunities.

“We are continuing to work with RPMGlobal on additional inputs into the draft PFS to define the full value of this project.

“Interest has been expressed in the Kalkaroo project by a number of parties and Havilah will carefully evaluate all development and investment options in order to maximise shareholder value from the project, now that we are free to engage with third parties.”

100 million tonne Ore Reserve

Kalkaroo is located on the board of South Australi and New South Wales and hosts an Ore Reserve of 100.1 million tonnes grading 0.47% copper and 0.44 g/t gold.

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