hartleys upgrade to buy, target 69c, page-17

CL27, my biased view is no to possible T/O because world bank and african lion fund are very unlikely to sell - at least in next few years and under $2-3.

world bank in particular want the project to happen as good for morocco and best way for it to happen is be right in there.


Newminer1000, its interesting you hold because I thought [wrongly thought] that per that D&D event nearly six weeks ago that you were not going to buy, anyway its good to see you own some.
As regards your question about impact of the SPP, well on Friday with the 1st tranche coming through to Hartleys clients, being 15%, then I thought that had a negative on the sp, but at same time the 15m shares sold @ 34c above market - substantial shareholder notice just out - countered that to a big degree - sp finished at 31.5 on Friday. Today it was well supported and finished at 35c.

Just checked the trades and bot buying was full on again today, so someone is building a stake so obviously they are not bothered with the SPP.

Frankly, had there been no D&D coverage then my guess is the hartleys capital raising would have been pitched at say 18c max and for less quantity, but only taking to pre-feasability stage, so thanks to the D&D the capital raising has gone the next step at a higher price and advanced project by 12 months. Furthermore,less shares will now have been issued to end of feasability stage than otherwise, so punters are gertting more for their buck.
Kasbah management must be very pleased and hopefully the AGM will have more than just a cup of tea.

Expect the buyer of the 15m shares will be a very interesting read.