There were widespread falls in the ASX yesterday, across all sectors. Many explorers & incipient mining producers fall yesterday by c. 4%-5%- but HAS was one of the very few whose SP rose. Clearly, the market regards very positively the HAS/Wyloo buying of 22% of NEO.
It should also be noted that, obviously, Andrew Forrest is a vey canny & successful investor- using his own funds, a $150m loan to HAS, shows his strong interest in RE-he would have done his DD on HAS, & its mining resources & strategies.
It is reasonable to expect Wyloo, also, seek equity in HAS sometime in the future- which will boost the SP of HAS, if only because it has such an extremely wealthy backe. There is the possibility, of course, that Wyloo will provide debt funding, on very attractive terms for HAS, for Yangibana's development
C. Ecclestone was also very positive, re the Wyloo connection to HAS, when he said
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