Found this which i had forgotten, makes the current SP seem a tad silly.
"On the basis the US$161M Project financing is secured, HBIS will have the right to 80% of the iron concentrate production for a 10 year period, and priority over the balance; • Subject to successfully securing the US$161M Project finance, relevant government approvals and processes, a placement to HBIS of 6,250,000 shares, at an issue price of $0.40 per share, and the grant of that number of options that would, if exercised, result in HBIS owning 19.9% of the Company’s issued share capital (as at the date of this announcement that number of options is 8,121,300) with each option being exercisable at $0.50 and expiring 24 months from the date of grant. The grant of the options is subject to shareholder approval"
So if the placement takes place after finance, which given 80% of our ore is pretty much sold, Hebei will get a placement at 40c, with options exerciseable at 50c. Makes 21c seems like a tad of a joke. Just thought this would make for interesting reading
RHM Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
