Found this which i had forgotten, makes the current SP seem a tad silly.
"On the basis the US$161M Project financing is secured, HBIS will have the right to 80% of the iron concentrate production for a 10 year period, and priority over the balance;
• Subject to successfully securing the US$161M Project finance, relevant government approvals and processes, a placement to HBIS of 6,250,000
shares, at an issue price of $0.40 per share, and the grant of that number of options that would, if exercised, result in HBIS owning 19.9% of the Company’s issued share capital (as at the date of this announcement that number of options is 8,121,300) with each option being exercisable at $0.50
and expiring 24 months from the date of grant. The grant of the options is subject to shareholder approval"
So if the placement takes place after finance, which given 80% of our ore is pretty much sold, Hebei will get a placement at 40c, with options exerciseable at 50c. Makes 21c seems like a tad of a joke. Just thought this would make for interesting reading
- Forums
- ASX - By Stock
- going over old announcements
Found this which i had forgotten, makes the current SP seem a...
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add RHM (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online