Havilah Resources (HAV) Q2 2025 TU earnings summary

Executive summary

• Positive drilling results at Mutooroo and Croziers, with significant copper, cobalt, gold, beryllium, and tungsten intercepts reported.

• Ongoing engagement with potential partners to monetize the Kalkaroo copper-gold-cobalt project amid record gold prices.

• Koba Resources and Heavy Rare Earths Limited advanced uranium exploration, with notable results at Yarramba and new exploration programs planned.

• Active exploration program planned for 2025 across multiple prospects in the Curnamona Province.

Financial highlights

• Cash and cash equivalents at 31 January 2025: $2,977,653.

• Fair value of equity share investments in Koba, HRE, and FireFly Metals: $3,117,195.

• Total cash outflow for exploration and evaluation activities during the quarter: $2,221,060.

• Net cash from operating activities for the quarter: $1,050,250; net cash used in investing activities: $(2,115,148).

• Proceeds from equity issues in the quarter: $4,071,075.

Outlook and guidance

• Focus on monetizing Kalkaroo through project equity sale.

• Completion of Mutooroo study with JXAM and potential investment agreement.

• Continuous exploration and drilling activities planned for 2025, subject to operational constraints.