Ann: Yangibana Project Update, page-8

I just glanced down the announcement list and saw this headline and extrapolated, didn't bother opening announcement. Apologies if I misread it.


The CFO left for another opportunity, but the timing is horrible. I've posted that the Feb'22 DFS looked 'inaccurately presented to shareholders', that the Wynoo $150M loan was 'inaccurately presented as an investment' and that the con-note debt due in 2.5 years considerably increases financial risk at a time HAS is going to be laden with debt, potentially commissioning a new plant but not generating any cash. The $150M Neo investment is approx $50M underwater, and who knows where it will be when/if Twiggy comes knocking for his $210M loan plus capitalised interest back.

Seems to me all these things are the responsibility of the CFO and his professional opinion in recommending to the board... perhaps he had to fall on his sword? If HAS has got themselves into serious trouble, half pregnant with long lead items and partially build plant, then funders step back because of the situation has changed... he probably won;t be the only one leaving for better opportunities.

sh#tsh#w looks exactly what this is turning into sorry to agree with earlier poster.