HVY (ASX) Ann: Quarterly Activities &amp; Cashflow Reports

Originally posted by PICT: ↑

The problem is in my view is the timeline

I know how slow Mozambique is, with the recent shutdowns of the office and also running short-staffed the usual timeline to get things granted will be well off, yes the Rio/Savannah (Mutamba) applications took roughly 2 years but the last one was granted on 03/09/2019, basically, before Mozambique experienced any major shutdowns or short-staffed in the mining office.

Rio (Mutamba) are also still waiting on the mining licence application for the tenement that is around where the new port will be built since applying in 2018, so I doubt you can rely on the 2 year timeline a lot are expecting here.

The problem I see with HVY is there is a minimum expenditure due by the 19th April 2023 which HVY are liable for, if they don't spend this then they forfeit their rights to the tenement and it goes back to the person getting free carried at the moment with a 30% holding

HVY have stated that they will not acquire the 70% interest unless it gains a mining licence, which is why they are spending nothing on it at the moment in my view, if they decide not to acquire the 70% then it goes back to the person with the 30% holding

So timeline wise, if it takes another year or more for the mining licence to be granted will there be enough time to do the minimum spend, or will shareholders be willing to allow the company to spend $1.4m+ AUD min spend when there is a chance they might not acquire the tenement in the end........

Then there is the question that I can't see an answer for is how much has it cost/will it cost to acquire the 70%

All I see are red flags and pump from a poster

Expand

@PICT what are your thoughts about the project opportunity that HVY are focusing on at the moment and it's potential?

Originally posted by PICT: ↑

The problem is in my view is the timeline

I know how slow Mozambique is, with the recent shutdowns of the office and also running short-staffed the usual timeline to get things granted will be well off, yes the Rio/Savannah (Mutamba) applications took roughly 2 years but the last one was granted on 03/09/2019, basically, before Mozambique experienced any major shutdowns or short-staffed in the mining office.

Rio (Mutamba) are also still waiting on the mining licence application for the tenement that is around where the new port will be built since applying in 2018, so I doubt you can rely on the 2 year timeline a lot are expecting here.

The problem I see with HVY is there is a minimum expenditure due by the 19th April 2023 which HVY are liable for, if they don't spend this then they forfeit their rights to the tenement and it goes back to the person getting free carried at the moment with a 30% holding

HVY have stated that they will not acquire the 70% interest unless it gains a mining licence, which is why they are spending nothing on it at the moment in my view, if they decide not to acquire the 70% then it goes back to the person with the 30% holding

So timeline wise, if it takes another year or more for the mining licence to be granted will there be enough time to do the minimum spend, or will shareholders be willing to allow the company to spend $1.4m+ AUD min spend when there is a chance they might not acquire the tenement in the end........

Then there is the question that I can't see an answer for is how much has it cost/will it cost to acquire the 70%

All I see are red flags and pump from a poster

Expand

No.	Vol.	Price($)
4	173261	10.5¢

No.

Vol.

Price($)

173261

10.5¢

Price($)	Vol.	No.
11.0¢	53544	2

Price($)

Vol.

No.

11.0¢

53544

No.	Vol.	Price($)
3	163738	0.105
9	172100	0.100
1	35000	0.091
5	82332	0.090
2	131212	0.080

No.

Vol.

Price($)

163738

0.105

172100

0.100

35000

0.091

82332

0.090

131212

0.080

Price($)	Vol.	No.
0.110	53544	2
0.115	54377	2
0.120	16696	2
0.125	24999	1
0.135	100000	1

Price($)

Vol.

No.

0.110

53544

0.115

54377

0.120

16696

0.125

24999

0.135

100000

(20min delay)
Last 11.0¢		Change -0.005(4.35%)		Mkt cap ! $7.289M

Open	High	Low	Value	Volume
11.5¢	11.5¢	11.0¢	$1.889K	17.13K

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