And why wouldn't they with these Vendor terms on offer :-
' Pursuant to these Agreements, this has now materialised. Consequently, with shareholder approval secured and the Board satisfied due diligence has been finalised, the acquisition of 100% of the issued capital of NVPL and VanMin can now complete. As final consideration payment HDY will issue NVPL and VanMin shareholders the following: '
- 737,500,000 (NVPL) & 550,000,000 (VanMin) fully paid ordinary shares; and
- 737,500,000 (NVPL) & 550,000000 (VanMin) listed options to acquire shares (exercisable at $0.02 on or before 30 April 2020)
With exactly half being granted through the heads and the other half effectively at .02 cents by April 2020, why wouldn't you reduce your exposure by 75 - 80 % from current SP levels .....whilst at the same time increasing your leverage by at least
4 times to up to
20 times....
- so long as there is no shortage of ' Sellers '.
IMO though, the significant thing to note in observing the volumes going through the last couple of days was the more important fact that there was no shortage of ' Buyer's coming for both the Heads and the OC's - even in the face of no official OC bid !!
Bottom line folk's is there will be no shortage of outstanding news flow over the next 4 - 6 weeks. You just don't fly to Argentina to ' Fast Track ' several fronts without returning with an affirmative answers. My guess is there will already be sampling testing underway on the ' Bulk Legacy Stockpiles ' as this would be supremely advantageous supporting the argument for re-opening including the environmental benefits in eventual longer term mine site restoration's. Hand in Glove so to speak.
This week I have entered HDY with a fairly sizeable parcels on the heads with my usual accumulation and averaging rules applying , and will continue to hit the offer on the OC's so long as they continue to be available.....
