read between the lines, page-27

Kozzie,

The way I see it, HAW has put a spanner in the works.

How else do you explain this situation.

I would hate to be a HAW shareholder right now.

Think about it.
The ann does not state anything about HAW.
What's the significance?

Well, this is how I think:

HAW is pretty much penniless.
They have 1.7 billion shares on issue.
They trade at a measly 1.6c
They own an asset which they have ZERO chance of developing.

Now, consider this:
We (who own zero % of Mt Bevan - at this stage) have procured a world class miner and his financial backing.

All we need to do is spend another few mill and we WILL own 60% of HAW's backside.

Now what will happen if we say: Let's drill some more.
The next drilling phase will cost say $10M of which HAW has to come up with $4M.

Where do you think they will get it from???

If they can't get it then we as a 60% partner (in Mt Bevan) can push them to a breaking point and take them over for peanuts.

I think that this is a possibility and HAW is afraid that this might happen.

If they were in talks with LCY, why would they be formally requesting that Valuation and going into a trading halt?

I think that they are peed off to the max as there is nothing in the deal for them.

This is probably why we were not told about all the additional benefits of our deal with NMDC.

I'm surprised that the Indian Parliament even allowed $19M payment to LCY without owning a single % of Mt Bevan.