Read this post maybe (https://hotcopper.com.au/posts/66225940/single sorry its long) but Twiggy hasn't paid anything yet. He loaned $150M to HAS for Neo shares (which have since dropped to $50M in value) and is collecting $18M a year interest on that loan. In three years time after compounding, Twiggy will ask for his $210M back and HAS could well be in a very difficult spot yeah?
NEO may be only worth $75M by that time as a distressed block sale, and the other $135M might be very dilutive to raise on market. Even if HAS get equity funding this year to start building a mine, in three years time they will have approx $400M project debt in addition to Twig's $210M debt, no production revenue yet, and Twiggy demanding repayment of his $210M debt, right now, thank you. It might have snafu'd the market into CR raise of the year at $4.50, but it potentially leaves HAS in a very weak position indeed....
HAS Price at posting:
$2.95 Sentiment: None Disclosure: Not 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)