The capital raising via the rights issue at 17c provides more than the right to buy back 30% of Mt Webber Iron ore project. It is cleverly priced and one wonders if more by good luck than management to entice option holders to take up their options at 35c (thus adding more to the amount of money raised) to take advantage of the 17c rights issue
Converting the options at 35c adds more cash to the till and thus allows further development of Lithium and Uranium projects. Also with Thundellera recieving $25m+ for value of UMC shares it will allow Thundellera to drill up Uranium projects which are only 18km from Haddington ground thus enhancing the area.
Giralia is having great success at Mt Webber and as HDN and AGO strike follows into Giralia there is plenty of good news to come. There could be between 60m-90m tons attributable to HDN/ AGO at Mt Webber
Still plenty of good news to come from HDN
HDN Price at posting:
29.7¢ Sentiment: None Disclosure: Not Held
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