This agreement is quite clever. Yankuang Energy (YE) is interested in divesting its Canadian potash project but only at the right price. EMR is interested in a deal but only at the right price. YE finds a PRC firm to value HFR for a buy in price, if the price is too low YE risk reduced stake in the $220m USD buy in. This mechanism satisfy EMR flexibility to buy in as well at the right (lower) price. In either case the Muga project can obtain funding for phase 1.
The losses will be bored by existing shareholders that bought at higher prices.
Ann: LoI for Cooperation on Strategic Investment, page-74
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Last
26.0¢ |
Change
-0.020(7.14%) |
Mkt cap ! $101.9M | |||
| Open | High | Low | Value | Volume |
| 28.0¢ | 28.0¢ | 25.5¢ | $127.1K | 474.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 17925 | 26.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.0¢ | 1800 | 1 |
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| Last trade - 16.10pm 23/07/2024 (20 minute delay) ? |
| HFR (ASX) Chart |