Gold and Minerals Explorer
Haoma’s mission is to develop a leading edge gold mining province in the Pilbara (WA) by linking research with modern technology and new ways of thinking.Haoma Mining is a gold and minerals explorer with tenements in the Pilbara region of Western Australia.
Haoma is dedicated to developing a leading edge gold mining province in the Pilbara (WA) and Ravenswood/ Charters Towers region (QLD) by linking research with modern technology and new ways of thinking. Haoma operates with a flat management structure, which allows all company personnel to be hands-on, practical and single-minded about improving the bottom line performance.
Haoma has been active in many areas and aspects of its business. These include:
- Test work activities at Bamboo Creek
- Rare Earths including Spear Hill
- Mt Webber and Exploration and development of Haoma’s prospects near Marble Bar including Comet Mine, Just-in-Time and Blue Bar
- Elazac Quarry at Cookes Hill
- Ravenswood in North Queensland
- Top Camp, Ravenswood
- Many Haoma shareholders hold small parcels of shares that under ASX trading rules were considered to be sub-marketable holdings (less than A$500.00 in value) and could not be transacted on the ASX trading platform. There is no such restriction on the share parcel size that may be offered for sale through the Trading Hub.
- Haoma will match any sell offers placed in the trading hub at $0.24 per share (equal to last ASX trade price in October 2017) for share holdings of up to 5,000 shares. Haoma will also pay all fees (sell-side and buy-side) associated with each such transaction.
The financial statements for the Year to June 30, 2020 show that Haoma Mining recorded a consolidated loss of $4.96M. The result is after expensing interest charges of $1.35M and writing off $2.49M of costs associated with research and test work.
The Chairman’s family investment company has continued to provide the funding needed for Haoma to conduct its research and development activities.
The Haoma financial reports show the costs to date have been extensive and the revenues limited which has resulted in the current deficiency in net assets. As at June 30, 2020 the Chairman’s family’s total cash commitment to Haoma was recorded at $43.4M.