Havilah's $100M funding deal

BRITISH-based Gupta Family Group has pledged up to A$100 million to minnow Havilah Resources to fund work at its iron ore and copper-cobalt projects in South Australia over the next three years that could see the GFG Alliance emerge with a controlling interest in the Adelaide-based explorer.

Havilah's $100M funding deal Havilah's $100M funding deal Havilah's $100M funding deal Havilah's $100M funding deal Havilah's $100M funding deal

GFG Alliance chairman Sanjeev Gupta.

The share agreement is for a committed staged investment of $50 million, starting with an initial $6 million placement at the 45-day share average, and $44 million to be paid at specific milestones.