North Portia Revised Divestment Terms

• Revised divestment terms provide mutual commercial benefits, with accelerated payments to Havilah and greater flexibility for CMC.
• $2.0 million payment received by Havilah on 5 April 2019 and a further $4.0 million due in July 2019.
• Removal of uncertainty and a reduction in costs as payments are no longer linked to permitting obligations.
• Total divestment price of $12.0 million plus 1.5% NSR royalty remains a favourable outcome for Havilah based on comparative transactions.

View Announcement