$100 million in cash paid over 3 years plus x% royalty for the divestment of the iron ore assets to Simec is how this release should read.
Instead, the shareholders get massive dilution and $44 million in funding to get projects ready for GFG to take for themselves in three years when they control the votes and the BOD.
It's crazy, but even with this deal HAV still need to do a CR for operating funds as they only get $6 million to spend how they want. The CR of course, is labeled as a great opportunity for shareholders to get in on the action.
If GFG wanted a controlling interest in HAV they should have been forced to buy the shares from existing shareholders.
Ann: Havilah Secures Funding of up to $100M from GFG Alliance, page-35
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Last
24.5¢ |
Change
0.010(4.26%) |
Mkt cap ! $75.99M | |||
| Open | High | Low | Value | Volume |
| 23.5¢ | 24.5¢ | 23.5¢ | $70.14K | 292.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 51745 | 24.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 24.5¢ | 73605 | 3 |
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| Last trade - 13.04pm 15/07/2024 (20 minute delay) ? |
| HAV (ASX) Chart |