Ann: Quarterly Activities Report - Period Ending 31 January 2019, page-15

'With his foot in the door, Mark Stewart's legal firm (Arion Legal) has the potential now to make money from asset transactions, similar to the fees Arion Legal made from the Portia/North Portia divestment.'



'Look for companies to have a 3 tier approach. 1 asset in positive cash flow production [Portia] to develop an advanced asset through Feasibility/Permitting [Kalkaroo/ Mutooroo] and some exciting exploration [GIB/ Jupiter].'

HAV was on the right track with developing and mining Portia.

Then a lawyer who IMO is conflicted by said legal fee$ is appointed to the Board. Strategic long-term thinking is seemingly thrown out the window. Portia/North Portia is divested in what so far is a dog of a deal for HAV shareholders. To fund its bloated staff and corporate/admin costs (~$4M pa is much higher than HAV's peers), the Board enters into secured debt agreements at exorbitant rates, diluting Shareholders in the process. Said Director/ Lawyer is rewarded with a promotion to Chairman. Go figure!

IMO he fooled you Dr Giles. Other shareholders are collateral damage.

DYOR