Havilah Resources Ltd (ASX:HAV) welcomes the six-month deferral of mineral exploration licence fees announced by the South Australian Minister for Energy and Mining, Dan van Holst Pellekaan.
Additionally, the State Government has granted a 12-month waiver of exploration expenditure commitments with both measures implemented due to the COVID-19 pandemic.
Preserving cash resources[hhmc]
The company said it was grateful for these two initiatives, which would have an immediate benefit in preserving its cash resources.
In announcing the measures, the Minister said: “The Marshall Liberal Government has implemented an immediate deferral of mineral exploration licence fees and annual petroleum and geothermal licence fees due in the next six months.
“These licence fees will now not be due until December 31, 2020.
“In addition, there is a 12-month waiver of committed expenditure for all mineral exploration licence holders.”
“Working closely with resources industry”[hhmc]
He said: “The junior exploration sector is suffering disproportionately from the disruptive effects of the pandemic response, with many smaller companies already operating for some time in difficult financial markets finding it tough going in the current health emergency.
“During these difficult times, it is essential that government continues to work closely with the resources industry to keep them operating while maintaining a safe and healthy workplace for their people, to aid in the eventual recovery.”
Kalkaroo drilling[hhmc]
With exploration remaining a permitted activity in South Australia, Havilah continues its exploration drilling program at Kalkaroo under strict observance of COVID-19 guidelines.
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