Ann: Webinar Invitation to Shareholders, page-63

So, a fire sale from HAS to Wyloo/FMG/Twiggy.

HAS would've had to pay Wyloo $220M in October this year.

There's no way they could've raised $220M and paid back the debt (without a miracle happening), which means would've gone bankrupt.

So, $220M from Wyloo buys them $80M worth of Neo shares from HAS, and also 60% of the Yangibana project.

$220M - $80M = $140M for 60% of Yangibana.

$140M for 60% = $233M valuation for 100% of Yangibana.

Very cheap/definite fire sale, when you also take into account the capital that HAS has already been sunk into Yangibana - but when you have a gun to your head, you take whatever you can get?



For DRE, couldn't have asked for better (third party/non-DRE initiated) news on the REEs.

HAS have the crumbs from the REEs from DRE's grounds, so you wonder how much DRE's "half is worth", and then there's one of the biggest carbonatites in the world on DRE's side too.

Wyloo will develop Yangibana, and DRE's Yin/GCC will be acquired by Wyloo, with lots of Saudi/ME money involved (and maybe plenty from the Australian government, now that Wyloo is involved/in control of the project), you'd think?



But yeah, all focus on gold/mining at the moment (while Dean's "helper" markets the REEs in the Middle East/Asia, per the recent webinar).



Cheers,

GB.