so after spending more time last night looking through the documents in more detail this is a pretty simple decision for shareholders. It simply depends on what you feel the company is worth and what price you are willing to sell a significant part of the company at. Take all information provided by the IE as being valid and don't worry about the security and other complex arrangements, they are just causing smoke and confusion. The IE has valued our shares at approx 23c before the transaction and at approx 17c after the transaction (hence they had to deem it was not 'fair') However in coming to this BEFORE value the IE has assigned a value to Grants of $400K and Grants Basin somewhere mixed in a line item of $30M with approx 16 other tenements. These tenements do not have a Resource or Reserve defined yet and so valuation is very vague and not broken out per tenement. With Kalkaroo the share value allocated was the major portion of the 23c- almost all of it infact.Grants Basin revenue COULD be 10 or 100 times greater or it could be a flop as Walter likes to say there are many other Iron projects stalled in SA. So how much value do you allocate to the Grants and Grants Basin ore projects? Given we are being offered a diluted reduction on share 'value' with almost ZERO value assigned to the Iron assets so we are primarily giving them away for free. DYOR and decide what value you assign to the Genesis Iron projects before you decide to vote Yes.
HAV Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
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