haw annn, page-15

This was from HAW's Quarterly- only 6 weeks ago:

"However during the June quarter a formal proposal was
received by the Company from advisor’s to Legacy Iron Ore proposing terms for the acquisition of the Company’s 40% interest in the Mount Bevan Iron Ore project. The company is considering the terms of this proposal and is seeking appropriate professional advice."
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I am only new to looking at HAW and LCY, but that is very recent. Why have LCY holders given up buying Mount Bevan? HAW speak of giving an in-specie distribution to holders- perhaps they sell Mt Bevan and then give some money back?

I must be missing something, as you holders seem to feel a purchase/sale of Mt Bevan is not possible?

HAW could split into two entities: HAW Gold and HAW Iron. They demerge and LCY buys HAW iron. Or HAW simply does a trade/asset sale from the original HAW.