Listed Options Exercise Results
Adelaide, July 12, 2017 AEST (ABN Newswire) - Havilah Resources Limited (
ASX:HAV) (Havilah) is pleased to announce that 7.2 million of its listed options (ASX HAVO) that expired on 30 June 2017, were exercised by shareholders, raising a sum of $2.1 million. Many Havilah shareholders exercised their options including the majority of Havilah's larger long term private shareholders, notwithstanding the small margin between the option exercise price and the share price at the time. All directors and the CFO also exercised options.
Highlights
- $2.1 million raised from exercise of 30 June 2017 listed options
The Company's share registrar (Computershare Investor Services) advises that the relevant CHESS documents have been despatched to all shareholders.
Commenting on the listed options exercise outcome, Havilah Managing Director, Dr Chris Giles said: "We are extremely grateful to those shareholders who supported Havilah via the exercise of their options.
"Over the last six months Havilah approached a number of institutions to underwrite the options exercise, but despite the considerable interest in Havilah's potential as a future copper and cobalt producer this interest did not crystallise into a timely underwriting arrangement.
"These funds will be utilised to further enhance the Portia operations as Havilah seeks to build its cash reserves from gold sales from the Portia gold mine" he said.
About Havilah Resources Ltd
Havilah Resources Ltd (ASX:HAV) is a debt free South Australian gold producer having recently financed and developed its first gold mine at Portia in north-eastern South Australia. It plans to follow on with three copper-gold-cobalt mining developments at North Portia, Kalkaroo and Mutooroo, which are underpinned by a JORC resources mineral inventory of over 1.4 million tonnes of copper, 3.6 million ounces of gold, and 18,000 tonnes of cobalt.
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