Ann: $100 Million Placement to Accelerate Construction Yangibana, page-15

We shouldn’t underestimate the significance of this $100m equity placement imo - it’s not just ‘another capital raise’. Together with the $31.6m expected from the exercising of options (HASO), this rounds up the remaining equity component of the project’s capital cost ($124m).

It’s a key milestone that derisks the project further and will in turn allow the company to finalise the debt component of project financing ($385m). Most importantly it should give investors greater confidence that the quality  project is going ahead.

• Equity financing ✅
  
• Debt financing: in progress
• Finalisation of offtakes: in progress
• Final investment decision: in progress

Congratulations to all holders of HAS and HASO, and welcome aboard L1 Capital and other new investors. With so many key inflection points expected across the next few months, I wouldn’t be surprised to see the HAS SP double from here in no time! Next ASX rare earths producer after Lynas.

Cheers,
L