NAIF approval is a huge vote of confidence in both the resource and the business plan that has been worked up extensively over the past three years particularly to suit both the contracted customers, the sovereign support lenders, also equity mkts aka $100m cash raise.
That NAIF confidence will extend to the Germans & Finns who should follow shortly as a package.
No doubt that confidence will also extend to further customers currently at the fringe.
RE space has seen an abundance of hot air from a host of carnival barkers past decade but none has put together contracted customers & contracted finance on a commercially viable scale since Lynas 2008, although the finance package not yet complete the significance of yesterday's approval has been overlooked IMO, particularly as none of the other dreamboats have managed to contract either customers or finance and quite clearly they are interdependent.
Still a long way to go, balance of sovereign funding for starters, once that's done it should free HAS to release hopefully a fairly comprehensive economic update & schedule next 2 yrs.
Another positive here is the quality of the team that Charles has quietly fleshed out over the past year or so, imagine depth of experience added to the business will become more evident.
HAS Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
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