Yes, they are selling 60% of their Yangibana Project. But in exchange for the $200 million exchangeable note for the Neo shares. On top of that, Twiggy will cover 60% of the remaining CapEx, contributing $190 million (60% of $316 million) to develop the project.
Hastings will still retain 40% of all revenues from Yangibana, while the project itself is now significantly de-risked thanks to a strong partner like Wyloo and their solid balance sheet.
Additionally, Hastings keeps control of assets and tenements outside of Yangibana, including Ark Gold and Brockman (which holds heavy rare earths).
HAS Price at posting:
39.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)