Ann: Havilah Secures Funding of up to $100M from GFG Alliance, page-32

'... $50m should just about do it... '

Killer post! Well done to those who have seen through this release.

Seems the current Market Cap of ~ $49M is priced where the GFG transaction is pitched. GFG will receive slightly more than the SoI (in NEW shares) for $50M. This means that HAV's BoD is saying that the EXISTING SoI are worth ~ $48M.

		%	$M
1	GFG	51%	50
2	SOI	49%	48
3		100%	98

In 2013, Warwick Grigor, former chairman of brokerage Canaccord Australia, claimed HAV could be worth more than $1 billion based on its copper-gold and iron ore projects in SA. Following the Grants Basin Iron Ore Initial Exploration Target as of 3 April 2019 of 3.47 BT to 3.79 BT, this would suggest Grigor’s $1 billion could potentially be worth $ multi-billions, supported by various calculations posted on this forum.

However, in ratifying the GFG proposal, HAV's BoD is saying HAV is worth $48M. How HAV's BoD reached this conclusion beggars belief. That Giles let this happen beggars belief.

As with so much that HAV's leadership has done over the last 2 years, this DOES NOT PASS THE PUB TEST!

IMO GFG stands to make a fortune thanks to HAV’s current leadership. Hopefully ASX and ASIC are watching...

Anyone else who is interested in Cu-Au-Fe assets with a JORC ISV of ~ $39 Billion (Post #: 37654259) + GIB, HAV's BoD has set the 'reserve' at a lowly $48M. Gazump away!

DYOR