Havilah (HAV) - an example of danger

Discussion in 'Stocks & Derivatives' started by SilverSanchez, Apr 24, 2012.

  1. SilverSanchez

    SilverSanchez Active Member

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    Brent Cook says that he looks for the fatal flaw - I believe HAV is a good example (ironically they use Cook's graph in their presentation)
    http://www.havilah-resources.com.au

    This company says they are meaning to bring their Portia deposit to production through an open pit mine

    They say they have a JORC resource of 720,000t @ 3.1g/t Au for 72,000 ounces

    They DONT have a reserve because their resource is only INFERRED - you cant apply economic modelling to an inferred resource (minimum needed is an INDICATED resource)

    Hence they cannot legitimately call their resource 'ORE' - ore is a concentration of material taht can be mined now at a profit (HAV cant proove this)

    THEREFORE - they will have problems financing this, they might jerk some sophisticated investors to supliment finding and mine the shareholders/market

    They use a Au price of A$1750per ounce and their details of expenditure is completely void of a COST PER OUNCE because THEY COULD NOT HAVE DONE A feasability study of an inferred resource.

    YET they tick off the pre-feas and the feasability study on their project status - no bankable feasability study!


    This company is a joke - lots going on here that stinks

    I have been looking through their material for answers to my questions - and they play the language game - talking up their project, but having nothing
    AND THEY KNOW IT - becaus ethey have 'qualified persons' as defined in the JORC code ON THEIR BOARD!

    Im NOT saying you cant make money on this company
    I AM saying there is no reason i can see to trust this resource will ever become a reserve, and if they are doing this with one project - what will they do with the others?

    These directors also have another spin off company with geothermal properties - stay away from them as well IMO.
     
  2. SilverSanchez

    SilverSanchez Active Member

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    Interesting point - Mickey Fulp taught me to look carefully at the website of a company because it may show if the company pay attention to details and plan on being around for a long time.
     
  3. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Short it?
     
  4. SilverSanchez

    SilverSanchez Active Member

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    If you think the whole market has discovered this deception but is waiting for a particular day to all get out at one time - yes

    If not then - don't ask me :) I don't know
     
  5. SilverSanchez

    SilverSanchez Active Member

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    What a joke!

    Havilah have made a bid for Curnamona Energy Limited

    look at the directors of both of those companies - they are buying what they started in the first place.

    I have absolutely no idea why this stock has gone up - maybe I'm not seeing something
    Or maybe im not missing anything and its the latest effect of the unfolding scandal

    I dont know if shareholders have been informed or not i just noticed the rise and the anouncments


    This (these two) companies are a failure - im noting the directors and adding them to my 'do not touch if these are involved' list
     
  6. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    This is giving me a sore neck.
     
  7. precious roar

    precious roar Active Member

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    So you're saying I shouldn't dump my shit performing stocks?
     
    mmm....shiney! likes this.

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