Hi all,
Enjoying the discussion. Deal looks like an exploration earn-in that will morph into infrastructure and offtake services if things pan out.
The 49% / 51% split is because significant exploration is yet to be completed at McIntosh prior to any FS. HXG has JORC'd a small sample and tested its quality. Good news is those results were good. On the back of good test results HXG has assured everyone that remaining un-JORC'd areas are a) significant in size, and b) of the same quality as those areas already tested. Might be true. Might not.
Anyway, MIN has taken a big bite here and HXG mgmt will now shift focus to becoming a product refiner. That's probably why the shareholder vote is proposed. A vote will effectively ratify the underlying change in company focus / commercial strategy.
"Conserving the capital structure" seems to be code for low debt + a tight register. If that is the right interpretation then earnings for shareholders (including mgmt) should be relatively strong...but in 3 years.
If I've missed something or any of the above is blatantly wrong then rip in. Nothing worse than misinformation on the forum.
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Hi all, Enjoying the discussion. Deal looks like an exploration...
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2.5¢ |
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Mkt cap ! $12.82M |
Open | High | Low | Value | Volume |
2.5¢ | 2.5¢ | 2.5¢ | $2.8K | 112K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 104509 | 2.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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2.7¢ | 200000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 104509 | 0.025 |
1 | 252248 | 0.024 |
1 | 37860 | 0.023 |
3 | 144111 | 0.021 |
3 | 813150 | 0.020 |
Price($) | Vol. | No. |
---|---|---|
0.027 | 200000 | 1 |
0.028 | 685977 | 4 |
0.029 | 31875 | 1 |
0.030 | 184000 | 2 |
0.031 | 377678 | 1 |
Last trade - 10.38am 07/10/2024 (20 minute delay) ? |
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