HAV

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21.5¢ havilah resources limited

Message from Chris Giles, page-32

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billmac

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03/09/19

10:51

Post #: 40288189
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Originally posted by That Fundamental Guy ↑

@seanc_au1 thanks for your posts and putting the question of a trust account to Walter.

It seems like we have focused on what happens if HAV becomes insolvent, but not properly considered what happens if GFG/SIMEC has cash flow difficulties. Given the media reports going around, I think that these are very relevant questions.

There are many ways for HAV to get the appropriate security/confidence that funds will be available. Trust account is one. Bank guarantee would be another. I'm sure those more experience in this area could come up with other ideas.

If security comes at a cost - what has GFG/SIMEC paid to get security over HAV's assets? When asked about why HAV needs to provide security, Walter's response is along the lines of "because you can't expect someone to lend money without being provided security".

However, what about some security going back the other way. What security is in place to ensure that over the next three to five years that GFG/SIMEC can actually "commit" to the "committed" funding? If HAV had to provide security over its iron and copper assets, why couldn't GFG/SIMEC provide security over some of its assets - it would come at no cost to GFG/SIMEC unless they couldn't fund all of their commitment. If they would be worried about providing that type of security, does it mean that they are worried that they couldn't commit to the full amount of the funding?

I think you have raised a really valid point and from the response, it seems like it was not considered by management prior to finalising the deal.

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Since Walter has managed HAV how many "Please Explains" have been received from ASX? Yet never a penalty.
What A joke ASIC and ASX and it appears even recently the Takeovers Panel regulators have become.
Proves the old saying "there is non so blind than those that don't want to see"

HAV Price at posting: 12.0¢ Sentiment: None Disclosure: Held
6 Upvote

0 Great analysis

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Last 21.5¢		Change 0.005(2.38%)		Mkt cap ! $72.94M

Open	High	Low	Value	Volume
21.0¢	21.5¢	20.5¢	$24.05K	115.0K

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Message from Chris Giles, page-32

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

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Message from Chris Giles, page-32

Top Stories

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