The prospectus for Handini resources was lodged with ASIC and ASX on 14 Feb.
In it Coal Fe shareholders get a priority entitlement to $5m of the stock, plus Coal gets 10 million shares.
10m shares at IPO price of $0.50 = $5m.
Coal has about 80m shares on issue at $0.10 = $8m cap.
with the mins of the Handini float being $1m it is sure to get up and producing 1.2Mt up to 2.2Mt even at US$5 margins gives some very healthy profits.
And Coal has 10m shares in it.
$5m value in Handini shares in an $8m cap company....you do the math.
$13m value / 80m shares = $0.165 per coal Fe share
AQJ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
