The way I see it HAS has taken a beating since share consolidation, ironically to make the SP look more attractive to institutions. Fast forward to the present and we have SP closer to original pre-consolidation price than what it was before (?more than 5 bucks). The sizeable increase in Capex is not entirely surprising in current global economic climate, but current RE price also puts a real dampener on things. Project economics also has taken a beating but you can't argue about prioritising construction in a time when raising funds is an issue for many (see ASM, ARU etc). If HAS can't get off the ground with a still lower CAPEX....you can fill in the blanks for the rest.
Anyway, I can't analyse like 2ic but surely Charles and co, plus Lynas and other RE producer wannabes can't be make stuff up about demand for RE in the future. I can understand some substitution in the future but surely it's more distant than the near future?
It's been a bruising week/weeks/months, and who knows if the shit is still approaching the fan, but spare a thought for Charles and the board. These fellas have been spending a lot of their money on this project since 2014, and very likely not have a good time like most of us shareholders.
My 2 cents. All the best to all.
HAS Price at posting:
$1.47 Sentiment: Hold Disclosure: Held
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