"1. HAW to own 100% of MtBevan only - the remainder of HAW assets to be spun off, which LCY holders won't participate in?"
not 100% right,imo. Legacy already own 250m HAW shares or 14% of total company, so LCY holders will be participated in the spun off indirectly, and should receive the new shares if in-specie the 60% shareholding it would hold in Hawthorn back to Legacy shareholders.
