I believe the MAP is meant to be non public disclosure under the terms and conditions of the deal.
The LDA deal was cunningly structured in such a way that LDA Capitals does not need to fork out a single cent in loan to HIO. They simply receive the shares 30 days in advance then sell them on the market and keep 10%-20% as profit and return the balance of the proceeds to HIO. They dont lend any money whatsoever.
The market and shareholders have let Bryan and management know how they feel about it. The message could not be clearer: WE DONT LIKE THE COMPANY GIVING LDA shares 30 days in advance to sell down. It is stupidity. And Bryan is now fully aware of it. Thanks God it is only 25mil shares and it is down to the last 10mil shares by now i guess. Through my own conversation with Bryan and numerous communications with others i think management has realized now that we just have to accept $4mil cash and shares to be paid to LDA as forgone expense and move on from here. Just a small expense in the grand scheme of things with regard project's valuation but a great lesson for the journey ahead in funding and financing deals. There are no shortage of fundings options through JV partners, off-takers, stragetic stakeholders, institutional and sotisphicated investor's placements,...
My best bet is HIO will bring in a major JV partner to move this project to production.
HIO Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
