Australia's Havilah Resources rises most in over 3 years on project advancement deal

Havilah Resources

13/11/2025 02:34

** Shares of Havilah Resources HAV.AX rise as much as 37% to A$0.370, their strongest session since August 12, 2022

** Stock at its highest level since January 30, 2023

** Diversified miner entered an agreement with Sandfire Resources SFR.AX to advance the Kalkaroo Copper-Gold project in South Australia

** Under the agreement, Sandfire may earn an 80% interest in Kalkaroo through a two-stage earn-in structure, comprising A$105 million ($68.23 million) upfront consideration and a further A$105 million upon completion of a new pre-feasibility study

** Shares of Sandfire Resources were largely flat, last down 0.2%

** Over 5.2 million shares change hands, compared with the 30-day average volume of 275,672

** Stock currently up 29.6%, bringing YTD gains to 20%

($1 = 1.5389 Australian dollars)

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com))