Hi All,
Based on the 2014 Annual report, HPX had spent $1Mill, I have not seen any references to say they had spent the required $1.7Mill to gain a 51% majority stake in the Commonwealth JV. I expect this would require a mandatory announcement to the market.
HPX drill results seem to be MIA. An ASX announcement on 16-Sep confirmed 4 holes drilled (WIRDD001, WIRDD002, WIRDD003 & B53DD01 - assumed from references in Apollo docs). While two of these drills were referenced from initial visuals, no actual assays appear to have been released.
What requirement is there on AON to report to the market on the results of C'wealth JV, given HPX is not the majority holder within the JV?
What happens if/when HPX become a 51%+ stakeholder regarding AON's reporting requirements given the JV would be majority owned by a private company?
AON Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
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