It’s Complicated

HAVILAH SECURES $2.0 MILLION PLACEMENT
TO FUND COPPER GROWTH STRATEGY
Highlights
• $2.0 million placement of 6.2 million shares at a 13% premium to the share price.
• Funding to be used to progress work on Havilah’s Copper Growth Strategy.
If the above is not a lie I don’t know what is.
The way I read the entire ASX report.
The second dot point above. The $2.05 million is not being used for progressing work on Havilah’s Copper Growth Strategy as stated.
It is in fact being used to deposit (invest, or what ever one like’s to call it) in an account with Bergen, who in turn will pay 20 monthly payments to Havilla. Dependant on 90% of it’s share trading price for 5 day period before the monthly payment is due.
The first dot point can not be correct if the price paid to Havilla each month is dictated by a fluctuating share price.
The whole scheme with Bergen appears to be put in place by them to gain the options benefits with out in effect paying for anything at this stage, as the payment to the Bergen account may be made by way of offset.