The way I see it, is HFR holders should retain about 25% with Yankuang and other equity capital being issued shares for their US$220m and in effect the “premium” is Yancoal Canada/Southey, for which no money will change hands. Profits from Muga will easily fund Southey development, so it’s a win/win. HFR will get Muga into production and Yankuang will get Southey developed (and Muga Phase 2 of course). Ultimately this is a company worth billions, so 25% of it is still worth the patience required.
Ann: LoI for Cooperation on Strategic Investment, page-85
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Last
25.0¢ |
Change
-0.030(10.7%) |
Mkt cap ! $112.2M | |||
| Open | High | Low | Value | Volume |
| 26.5¢ | 26.5¢ | 25.0¢ | $1.342K | 5.066K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3622 | 25.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.5¢ | 16949 | 1 |
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| HFR (ASX) Chart |