Havilah Resources Joins Hands With Native Title Holders For Mining At Kalkaroo

  • Dec 19, 2018 AEDT
  • Team Kalkine
Havilah Resources Joins Hands With Native Title Holders For Mining At Kalkaroo

Mineral explorer Havilah Resources Limited (ASX: HAV) announced that the company had inked a Native Title Mining Agreement for Kalkaroo, a copper-gold-cobalt project in South Australia. The deal was signed between the native title group of Ngadjuri Country named ‘Ngadjuri Adnyamathanha Wilyakali Native Title Aboriginal Corporation’ and Havilah Resources Limited.

In today’s market announcement, the company told that agreement was signed on the terms of profit-based compensation payment instead of “off-the-top” revenue-based royalty payment method. It underscores a fair profit-sharing arrangement under which Havilah would have no burden in times of low profits while NAWNTAC will have a substantial share in Havilah’s earnings especially in times of high profitability driven by future mining operations.

This signing of this agreement was an essential requirement for the granting of a Mining Lease by the Department for Energy and Minerals (DEM) of South Australia. The company expects to receive the Kalkaroo Mining Lease from DEM on completion of the statutory process for registration of native title mining agreements following the lodgment of the latest contract.

Havilah’s newly appointed Chairman Mr. Mark Stewart stated that “the importance of the execution of this Agreement cannot be overstated and represents a massive leap forward in the implementation of Havilah’s Copper Strategy – Enhanced by Cobalt, as it should now result in the grant of the Kalkaroo Mining Lease.”

This agreement represents another very significant milestone on the path to the potential development of the Kalkaroo project as a significant new copper-cobalt-gold mine in South Australia’s northeast. But it has been finalized after five years of rigorous negotiations and meetings held between representatives of the native title holders and Havilah.

Mr. Stewart said that “It is the culmination of many years of patient and persistent negotiation, introducing innovative concepts such as EBITDA, by Havilah executives, namely Chris Giles and Walter Richards. Acceptance of EBITDA profit sharing arrangement is a significant outcome for all parties.”

Moreover, the agreement was also driven by numerous non-financial benefits such as employment, training, and business development opportunities for the native title holders over the life of the mine.  In the concluding statement, Mr. Stewart acknowledged the support of their legal advisor Abigail Steed, as well as the co-operation and goodwill of the native title holder groups and their legal advisors over an extended period.

Havilah Resources is an ASX listed mineral exploration company. Broadly, the company is into the production and exploration of gold, copper, and cobalt across Australia. Its flagship projects include North Portia Copper-Gold Project, Portia Gold Project, Kalkaroo Copper-Gold-Molybdenum Project, and Mutooroo Project.

HAV traded flat in today’s trade, however, 181,583 shares changed hands as at 19 December 2018. It last traded at $0.160 with a market capitalization of $34.92 million.

Over the past one year, Havilah’s stock has fallen by 15.79% while since the past six months to 19 December 2018, it is down by 21.95%.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK