Sandfire and Havilah Formalize Partnership to Advance Kalkaroo Project
Sandfire Resources and Havilah Resources have entered into a binding agreement to jointly develop the Kalkaroo copper-gold project, which currently contains an ore reserve of 100 million tonnes grading 0.47% copper and 0.44g/t gold. The transaction uses a two-stage earn-in structure, allowing Sandfire to acquire up to an 80% interest in the project, with an initial payment of A$105 million (70% in Sandfire shares, 30% in cash).
Upon completion of a new pre-feasibility study (PFS) incorporating at least 20,000 meters of drilling, Sandfire will make an additional A$105 million payment. The agreement also establishes a strategic exploration alliance, with Sandfire committing A$30 million for regional exploration over a minimum of 24 months, targeting further resource expansion within Havilah’s tenements in the Curnamona Province. The collaboration leverages Sandfire’s project development expertise with Havilah’s geological knowledge, advancing the regulatory and operational pathway for one of Australia’s largest undeveloped open-pit copper-gold assets.
- Kalkaroo hosts 100 Mt ore reserve (0.47% Cu, 0.44g/t Au)
- Binding term sheet subject to earn-in milestones and regulatory approvals
- Partnership covers Kalkaroo project and wider Curnamona Province, South Australia
