haw annn, page-16

HAW speak of a spin-out of gold assets, and LCY speak of the in-specie. From LCY's last Quarterly:

"Upon acquiring suitable projects, Legacy will look to extract the greatest value for shareholders, with some options available including ongoing exploration and development or a return of capital via an in-specie distribution."
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It's interesting- they are both thinking the same thing! Maybe LCY will become LCY Coal and LCY Iron?

The Indians have put into LCY and the Chinese have put into HAW. No-one does much for free, though, so if there are spin-offs, in-specie shares or a capital return, the Indian/Chinese investors will get some of their investment/placement money back.

Having had just the most surface glance of these companies, the sensible ting- at some stage and if they both stop dropping- would be (for me) to buy both. They both seem to want to give out something for nothing- if there is such a thing on the ASX.