2020
ASX & HDY DELAY (Due to new ruling 1st December 2019)
BoD main priority was trying to find what the ASX was requiring under the listing rules. Some proposals have been accepted some have not. ASX do not have a straightforward list on what they require just the company submits what ASX want then the ASX change or add more. The company is hoping that the final proposal they have submitted with the ASX and are waiting to hear back. Could be any day and if it is accepted and implemented then HDY can relist https://www.minterellison.com/articles/1-december-2019-changes-to-the-asx-listing-rules-final
COMMUNICATION
Asked why nothing from the company regarding news to shareholders. Reply was the ASX have told them they don’t want HDY to comment or disclose what is happening.
DIRECTION (Burraga, maybe)
Once the company is relisted and the market has had chance to revalue HDY on what assets they hold at that time, then the company will look closely as to what assets fits the direction of the company.
GRACE PROJECT
Starts from surface and has some deep targets. Not mentioning names but one of the BoD said things like: Here purely for Grace, Jewel in the crown, would not be here if we didn’t have it, best asset this company has.
Focus when relisted will be the Grace project, they want to get work happening up there in February due to weather (Cooling down)
CONSOLIDATION
It will happen in a sensible way but hasn’t been decided on yet. The consolidation would be more acceptable once they are up and running again.
OPTION HOLDERS
They would like to make sure the option holders are not disadvantaged due to the suspension and so they are talking to lawyers & brokers to find the right path to go down. Loyalty options was the one that seem to generate a positive response.
HDY Price at posting:
0.4¢ Sentiment: None Disclosure: Held
