Havilah Resources (HAV) H1 2025 earnings summary

Executive summary

• Havilah Resources reported a net loss after tax of $1.16 million for the half-year ended 31 January 2025, compared to a profit of $1.31 million in the prior corresponding period.

• The period saw significant progress on key projects, including the Kalkaroo copper-gold project, Mutooroo copper-gold-cobalt project, and uranium asset monetisation.

• A successful capital raise via an entitlement offer brought in $4.07 million to fund ongoing exploration and development.

Financial highlights

• Net loss after tax: $1,163,965 (2024: profit $1,311,889).

• Operating cash inflow: $1.23 million (2024: $1.63 million); net cash outflow from investing: $3.41 million.

• Cash and cash equivalents at period end: $2.98 million (31 July 2024: $1.16 million).

• Equity investments in listed entities valued at $3.88 million, down from $5.19 million at prior period end.

• Employee benefits expense increased to $1.43 million, including $0.82 million in share-based payments.

• Fair value loss on financial assets: $2.69 million (2024: gain $9,833).

Outlook and guidance

• Ongoing discussions and studies for development or monetisation of the Kalkaroo project.

• Mutooroo project advancing with JXAM, with a pre-feasibility study and potential project interest under negotiation.

• Exposure to copper, gold, and uranium positions the company to benefit from recent commodity price increases.

• Funding options include asset sales, farm-outs, and further capital raising if required.