Havilah Resources Limited
Havilah Resources Limited holds a multi-project copper/base-metals portfolio in South Australia: the Kalkaroo copper-gold(-cobalt) project, the Mutooroo copper-cobalt-gold project, the Maldorky and Grants iron ore projects, and the Prospect Hill tin project. Kalkaroo's Mineral Resource stands at 232.5Mt at 0.49% Cu and 0.37 g/t Au (0.79% CuEq at a 0.4% CuEq cut-off), containing 1.14Mt copper and 2.77Moz gold; a 2018-era Pre-Feasibility Study (RPMGlobal) modelled a pre-tax NPV(7.5%) of A$564M and 26% IRR at US$2.89/lb Cu and US$1,200/oz Au -- both price assumptions well below current spot. In Nov 2025 Havilah executed definitive agreements for Sandfire Resources to earn up to 80% of Kalkaroo via a staged earn-in (~A$117.6M effective upfront consideration plus A$30M in regional exploration funding), with a new PFS due within 18-24 months (by ~H2 FY28) including a minimum 20,000m infill/extension drill program -- expected to supersede this 2018 figure once complete; Havilah retains 100% pending completion of Sandfire's earn-in stages. Separately, Havilah is progressing a Mutooroo farm-in with Hillgrove Resources (ASX:HGO), signed after the June 2026 quarter-end.
Notable vs. Peers
- Financials score of 7.2/10 is stronger than the peer average of 5.5/10.
Lifecycle Milestones
Not yet determined: mill, tailings facility.
Jurisdiction (40%)9/10
South Australia: Fraser PPI 2025 is 85.47 of 100 (rank 16 of 68), which maps to 9 on this site's scale. South Australia -- Tier-1 mining jurisdiction.
Infrastructure (40%)7.9/10
Confirmed road access and confirmed grid power at Kalkaroo Copper-Gold Project (South Australia); existing mill and tailings facility not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)10/10
Honeymoon (Boss Energy Limited) is 14 km away -- within shared-mill trucking range.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:8.6/10
Nearest producing mine: Honeymoon (Boss Energy Limited), 14 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:8/10
Stage: Pre-Feasibility Study
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Australia: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:8/10
Primary commodity: Copper
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Technical Director and Executive Director of Havilah Resources Limited. Internationally experienced exploration geologist involved in discoveries of operating gold mines across Indonesia, Tanzania and Australia. Founding member of Havilah; played a key role in the strategic accumulation of the Group's mineral tenement holding in the Curnamona Province of northeastern South Australia. Responsible for delineating 8 new mineral resources and overseeing exploration programs.
Chief Operating Officer of Havilah Resources Limited (B.Eng, Mining). Mining engineer with over 25 years' experience specializing in resource evaluation, mine planning and open pit optimisation using state of the art 3D mining software. Has worked across all Havilah projects and holds responsibility for technical delivery of the company's mineral projects.
Chief Geologist of Havilah Resources Limited (B.App.Sc, MSc Geology). More than 26 years of exploration experience in the Curnamona Craton; has led Havilah's exploration programs for 16 years, including design, supervision and conducting of exploration programs for copper and gold, resource drilling, geological modeling and mining approvals for multiple deposits.
Director and Company Secretary of Havilah Resources Limited.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Havilah's clearest outside backing is a small, historical stake held by global miner and trader Glencore, tied to its past joint-venture rights over Havilah's Kalkaroo project rather than a fresh cash purchase. We found real director's-interest filings on the ASX but couldn't confirm within available time whether they reflect buying or selling.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Havilah Resources holds a portfolio of projects in South Australia led by the Kalkaroo copper-gold project, alongside the Mutooroo copper-cobalt-gold project, the Maldorky and Grants iron ore projects and the Prospect Hill tin project. Kalkaroo's mineral resource is 232.5 Mt at 0.49% Cu and 0.37 g/t Au at a 0.4% CuEq cut-off, containing 1.14 Mt of copper and 2.77 Moz of gold. In November 2025 Havilah signed definitive agreements for Sandfire Resources to earn up to 80% of Kalkaroo in stages, including a new pre-feasibility study due within 18-24 months backed by at least 20,000 m of drilling, plus regional exploration funding. Kalkaroo's most recent completed economic study is the June 2019 pre-feasibility study, based on metal prices well below current levels, and Havilah is also progressing a farm-in on Mutooroo.