Havilah Resources Limited has announced further positive outcomes from its comprehensive study program at the Mutooroo copper-cobalt‑gold project located 60 km southwest of Broken Hill. The program – sponsored by JX Advanced Metals Corporation – involved 7,511 metres of drilling, extensive metallurgical testwork and an initial mining study, all of which support and extend previous work on the deposit. The drilling campaign, which included both reverse circulation and diamond drilling techniques, not only confirmed key massive sulphide intersections but also expanded the known resource envelope with encouraging intercepts, such as a 33.45-metre section displaying 1.93% copper, 0.22% cobalt and 0.25 g/t gold, and new intercepts beyond the current resource limits. Technical results from metallurgical testwork have demonstrated that the ore is amenable to a low-cost comminution and conventional flotation process, achieving copper recoveries greater than 91% and producing high‑grade concentrates with only modest deleterious elements. Downhole electromagnetic surveys have also identified conductive zones at greater depths, suggesting the continuation of massive sulphide mineralisation for at least 200 metres below the deepest drillholes and extending to more than 500 metres below the surface. Alongside these findings, the mining study evaluated a conceptual approach combining open pit and underground operations, which could enhance project economics by increasing mining economies of scale and extending mine life. Negotiations are currently underway between Havilah Resources Limited and JX Advanced Metals Corporation to finalise an agreement that would allow a comprehensive pre‑feasibility study to begin as early as July 2025. With JXAM holding an exclusivity period until 30 September 2025, the evolving discussions highlight the strategic intent to tailor concentrate products to suit specific smelter requirements while capitalising on the promising resource upgrade potential implied by the technical results. Bullish sentiment comes from the robust drilling and metallurgical data, which indicate both resource expansion potential and favourable ore processing characteristics. High copper recovery rates and the possibility to produce multiple concentrate types support strong project economics. Furthermore, the technical indicators, including drillhole intercepts that compare favourably with existing JORC resource grades (averaging 1.53% copper, 0.16% cobalt and 0.20 g/t gold) and the extended mineralisation at depth, add to the positive outlook. Conversely, cautious investors might note that negotiations for a pre‑feasibility study and potential equity acquisition are ongoing, which carries inherent risks and uncertainties. The successful conversion of these technical results into a robust economic case will ultimately need to overcome market volatility and the complexities associated with large-scale mining project development.