The demise of Hannans.
10 for 1 consolidation of Hannans - Haven't seen one of them work yet. Got 2 others in my portfolio that are nearly back at their pre-consolidation SP in less than 12 months and they are both resource producers. 1 Gas and 1 Copper.
In Specie shares to be handed out for SCR resources . Ask Long term Hannans holders how well the Errawarra inspecie has worked out after 4 years. Not a single word up until a week ago and that was by email and is not on the company web site. Why ?
The reason that I got into Hannans 5 years ago, along with the fact that we OWNED $30 Million of ATLAS Iron Shares, was the WA Nickel & Gold Leases.
HNR has got back its Nickel & Gold leases in WA what we originally owned 100% of. Somehow it came at the cost of NMT getting 40% ownership of Hannan. Work that one out. Looks like a Kerry Packer / Alan Bond deal.
After 5 painful years this little short winded spike reduced my long term losses to look "Just Catastrophic" not "Fatal" as they were looking. I've taken whats left of my investment in Hannans and will walk off into the sunset surprisingly happy that the saga is now over.
Good Luck to ALL I think your going to need it.
The demise of Hannans. 10 for 1 consolidation of Hannans -...
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