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Havilah Resources Limited (ASX:HAV)

ALERT: Price-sensitive ASX Announcement for HAV
Current share price for HAV : $0.825 0.64 (345.95%)+
Announcement
Release
4 Aug 2025 8:58AM
Price at Release
$0.185
Full Release
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Summary
Havilah Resources Limited (HAV) has announced that Heavy Rare Earths Limited (HRE) is set to acquire all mineral rights at the Prospect Hill tenement. This agreement involves HRE purchasing the remaining mineral rights (excluding rare earths) from HAV, providing consideration in cash and shares. The transaction will allow HRE to fully control the tenement and is structured to provide HAV with a significant stake in HRE, both through shares and royalties on future production. This move is aimed at unlocking further value from the Prospect Hill resource, streamlining exploration, and development activities by consolidating mineral rights under a single entity. The agreement is subject to certain conditions and regulatory approvals, with both parties expecting the transaction to enhance shareholder value.
Key Points
  • HRE to acquire all remaining mineral rights at Prospect Hill from HAV, except for rare earths, which HRE already holds.
  • Consideration for HAV includes a combination of cash and HRE shares, as well as a retained royalty on future mineral production.
  • The transaction will consolidate all mineral rights under HRE, facilitating streamlined project development and exploration.
  • HAV will become a significant shareholder in HRE as a result of the transaction.
  • The agreement is subject to customary conditions precedent, including regulatory approvals and third-party consents.
  • The deal is expected to maximize the value of the Prospect Hill resource and benefit both HAV and HRE shareholders.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.