Havilah Resources Ltd. signed a memorandum of understanding with Wanbao Mining Ltd. to complete a pre-feasibility study for the Kalkaroo copper-gold project in northeastern South Australia.

Wanbao will fund the pre-feasibility work, scheduled to be completed in six months, according to the May 29 release.

Based on the results of the study, Wanbao will make a decision on its future participation in financing and developing the project.

The Beijing-based copper and cobalt producer will have exclusivity for the duration of the study plus an additional two months, until the end of January 2018, the company noted.