Sorry, but you've been duped by a spiv. A lot of technical words...

Sorry, but you've been duped by a spiv. A lot of technical words and jargon surrounding the "Wyloo Investment", which understandably obfuscate the very simple fact Wyloo bought HAS debt similar to garden variety company bonds/notes ('redeemable' for cash upon maturity) except these notes can also be 'exchangeable' into shares at $5.50


The 'exchangeable' into HAS at $5.50/share is basically a call-option feature, which is the option for note holders to buy shares at a pre-determined higher price in the future. Call-options are 'in the money' if the share purchase/exchange price is lower than the market price and thus the call-option right usually exercised. When a call-option is 'out of the money' or lower than the share purchase/exchange price, the call-option is worthless...

Wyloo had upside exposure if REO prices went to the moon and Yangibana turned out a winner of a deposit, NEO shares took off and HAS share price with it all. Wyloo obviously has the right to ask for the $150M to be 'redeemed' in cash, and they will certainly not choose to exchange $150M cash for HAS shares at $5.50 when the price on market is $0.38c. What sort of crazy idiot lends $150m and agrees to accept shares in 3 years time at $5.50 a pop when there is only a small chance the stars align and shares are worth that much or more ?

There was always a higher probability of HAS being near worthless than worth >$5.50... it was an upside sweetner that gave Wyloo exposure to HAS should RE and Yangi/NEO take-off like a rocket. It was a hook to sucker in the market that the great Twig was buying HAS at $5.50 as an investment to run the stock and raise capital, and it worked a treat. Retail suckers who don;t understand finance but trust the headline releases from desperate and despicable junior developers.

"EXCHANGABLE AT THE OPTION OF WYLOO"... the RE market has moved on from 2022 and Yangi, no way in the world will Wyloo be exchanging the debt and compound interest for $5.50 HAS shares. If HAS cannot make the repayment when notes are redeemed for cash, then Wyloo may negotiate a cheaper conversion price for whatever cash shortfall HAS cannot make and takeover the company via extreme dilution, or call in the liquidators to get their money back from security over HAS assets (sell Yangi to new owners).

Either way he gets his loan redeemed in cash or ownership of Yangi through extreme dilution, or a bit of both. Given developments in the RE market and Yangi sliding way back in the pack of likely RE mine developments, the question is why would he want any exposure to Yangi at any price?

GLTAH