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HNR - Hannans Ltd

bigdog

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Re: HNR - Hannans Reward

FXR closed today 0.13 and HNR closed today 0.057

HNR shareholders FXR takeover offer price is 6.5 cents based on today FXR close!
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ASX ANN today
19-03-2009 04:19 PM FXR: Fox makes Takeover Bid for Hannans Reward

FOX MAKES TAKEOVER BID FOR HANNANS REWARD

Pilbara-based minerals developer Fox Resources Limited (ASX: FXR) has today announced its intention to make an off-market takeover offer for all the shares in Hannans Reward (ASX: HNR).

Fox Resources said the combination of the complementary nickel and iron ore assets of the two organisations would provide long term benefits of scope and scale for the shareholders of both Companies.

The all scrip Offer is based on one Fox Resources share, for every two Hannans Rewards shares on issue. The off market bid is not for the options.

Fox Resources Chairman Terry Streeter said the Offer represented a compelling case for Hannans Reward shareholders – particularly in the current market environment.

“Hannans Reward shareholders will have the opportunity to realise a substantial premium for their shares, as well as retain long term exposure and upside in the development of the nickel and iron ore assets through Fox,” Mr Streeter said.

“We believe the organisations have complementary assets and focus, and combining these would provide a strong geographical spread of assets and a team with considerable experience in the development of successful base metals projects.”

“Hannans Reward shareholders would also benefit from Fox’s relationships into China via our major shareholder and off-take partner Jinchuan Group Ltd, which is China’s largest producer of nickel,” he said.

“While the nickel market is currently at low levels, we have a long term positive outlook for steel feed minerals, and through joint development there is an opportunity to position these assets to capitalise on the return to improved metals prices,” Mr Streeter said.

Hannans Reward is a WA focussed explorer with its primary projects being the Forrestania Nickel project east of Perth, and the Jigalong iron ore project in the Pilbara.

The combined entity would:
• Offer increased geographical spread of development assets
• Provide benefits of increased size and scope
• Have access to key Chinese markets through Fox major shareholder Jinchuan Group
• Provide greater market liquidity
 

bigdog

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Re: HNR - Hannans Reward

The HNR board is not happy with two directors!!

The West Australian reports:
http://www.thewest.com.au/aapstory.aspx?StoryName=560961

Business and Finance
Hannans chairman turns heat on director
26th March 2009, 15:38 WST

The chairman of Western Australian minerals explorer Hannans Reward Ltd, Richard Scallan, is demanding the resignation of a director whom the company says gave pre-bid acceptance to a proposed takeover bid from Fox Resources Ltd.

Another Hannans director whom the company says also gave pre-bid acceptance already has quit the Hannans board.

Pilbara-based minerals developer Fox said on March 19 that it intended to make an all-scrip bid for all of the shares in Hannans, offering one Fox share for every two Hannans shares.

Hannans has urged its shareholders to take no action in relation to Fox's proposed bid, saying it has received no formal offer from Fox and that the proposed Fox bid is unsolicited and opportunistic.

Hannans said on Thursday that since receiving Fox's announcement of March 19, Hannans had been advised that Frank Cannavo and Terry Grammer, both of whom were Hannans directors at the time of the announcement, had given pre-bid acceptance to the Fox offer in relation to their holdings in Hannans.

"Despite request, neither Mr Cannavo nor Mr Grammer has disclosed their involvement with respect to the bid," Hannans said.

"Hannans reserves its rights in relation to their conduct.

"As advised to the market on 24 March, 2009, six days after the announcement, Mr Cannavo resigned from the Hannans board.

"Hannans chairman Mr Richard Scallan has requested the immediate resignation of Mr Grammer."

Fox said on Tuesday, March 24, that it had secured "strong support" for its offer, having received pre-bid acceptance commitments from "certain Hannans Reward shareholders with respect to 18.95 per cent of Hannans Reward shares".

"This gives Fox Resources a relevant interest in Hannans Reward shares of 18.95 per cent," Fox had said.

The pre-bid acceptance agreements were subject to certain conditions.

Fox says the "complementary" nickel and iron ore assets of Fox and Hannans would provide long-term benefits of scope and scale for both companies.

But Hannans managing director Damian Hicks said on Thursday that Hannans had reviewed the assets and balance sheets of both Hannans and Fox and concluded that there were no obvious synergies with Fox.

"Hannans holds quality exploration ground in the Forrestania, Pilbara and Eastern Goldfields regions of Western Australia, has $1.5 million in the bank and importantly no debt," Mr Hicks said.

"There are no project synergies other than the fact that both companies are exploration companies exploring for minerals in Western Australia."

Fox has said that it expects to dispatch its bidder's statement to all Hannans Reward shareholders as soon as practicable.

Hannans shares closed 0.6 cents higher at 10 cents at on Thursday. Fox shares were 1.5 cents higher at 17 cents.
 

bigdog

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Re: HNR - Hannans Reward

HNR SPP closes today Friday, 4 September 2009 to purchase Hannans Reward Ltd shares for 15.5 cents per share

The current share price is 16.0 at 10:53 AM

Interesting!!!!

  • Share Purchase Plan (SPP) closes this Friday, 4 September 2009 at 4pm (WST)
  • Purchase Hannans Reward Ltd shares for 15.5 cents per share
  • Purchase $500, $1,000, $2,500, $5,000, $10,000 or $15,000 worth of Hannans Shares
  • Use BPAY to pay for your shares – No need to return the application form
  • Use cheque, bank draft or money order to pay for your shares – You must also return the application
  • Funds raised to be used for:
  1. - Nickel & Gold exploration at the new Forrestania project
  2. - Gold, base metals and manganese exploration at Lake Johnston & Jigalong
  3. - Gold drilling at Lake Johnston has commenced with nickel drilling at Forrestania to follow
 
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Re: HNR - Hannans Reward

something fishy on this explorer today
good for the spp now....contrived...
all good i guess
cheers
 
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Re: HNR - Hannans Reward

may be due to wrk's merger with ago, hnr have equity stake in wrk due to coughing up jigalong fe rights to wrk

cheers :)

another quality post brought to you by happytown inc
 
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Re: HNR - Hannans Reward

ann out re speeding ticket - hnr puts it down to ago-wrk merger and shift in valuation to recognise the equity stake held in both, however value of other projects not included in current increased sp (according to hnr)

cheers :)

another quality post brought to you by happytown inc
 
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Re: HNR - Hannans Reward

thanks mate, appreciate the heads up, im a bit behind on aus stocks/links
i just bought a handful last week on a punt-its a fat profit stock
its good when u get a heads up here, rather than some prats just on an ego trip seemingly.
with the advent of the electronic community we now have more tools to even out the playground somewhat, and its a win win situation for all usually.
cheers shag.
ps fat profits advised taking up the spp, desite it trading near parity at that period.
may be due to wrk's merger with ago, hnr have
equity stake in wrk due to coughing up jigalong fe rights to wrk

cheers :)

another quality post brought to you by happytown inc
 
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Re: HNR - Hannans Reward

HNR broken out recently and at a new 12 month high.

IMO HNR has a couple of things going for it:

Queen Victoria Rocks Project - JV with Vale Drilling for Nickel
*Forrestania Project - along strike of some of the highest grade nickle deposits in the world. Drilling planned in the current quarter.
Jigalong project - sale of 100% Manganese rights
Sunday Project Triton Gold Ltd JV

*Flagship project IMO

DYOR

Quinn
 
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Re: HNR - Hannans Reward

Hi all,
I read the instructions but not sure if i should start a new thread as this one is a bit old. So if i have to move this, please let me know.

I am new to share and i saw that HNR have a 140% increase to 0.036c per share. I also notice they announce 'Hannans - Outstanding Historic Copper-Gold Results' today so i guessing that why the shares went up.
http://www.asx.com.au/asxpdf/20130314/pdf/42dn5x8k0kvst6.pdf

I do not endorse or take responsibility for material in the hyper-linked sites.

Considering that the shares are cheap, it looks like a stock worth investing in. Can anyone provide their recommendation if it is worth investing in this stock or should i look more towards blue chips stocks?
 
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Re: HNR - Hannans Reward

Hi all,
I read the instructions but not sure if i should start a new thread as this one is a bit old. So if i have to move this, please let me know.

I am new to share and i saw that HNR have a 140% increase to 0.036c per share. I also notice they announce 'Hannans - Outstanding Historic Copper-Gold Results' today so i guessing that why the shares went up.
http://www.asx.com.au/asxpdf/20130314/pdf/42dn5x8k0kvst6.pdf

I do not endorse or take responsibility for material in the hyper-linked sites.

Considering that the shares are cheap, it looks like a stock worth investing in. Can anyone provide their recommendation if it is worth investing in this stock or should i look more towards blue chips stocks?

I see they have moved to Sweden.
A good, solid exploration company, I have owned these in the past.
If I was to own them again, I would read up in quarterly reports as to what happened to their aussie tenements.
And I would check their financial position.
The posts in this thread are old because the company has been around for some time.
This is a good thing!

Good luck, Balgar!
 
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Re: HNR - Hannans Reward

Hannans - Further Outstanding Historic Copper-Gold Results:

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01392550

hnr.gif
 
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Re: HNR - Hannans Reward

Can they go much lower? ...

Hi burglar,
Yes they can and they did go lower.

But they are back with a vengeance.
Up 33% this morning, but fell back later in the day.

If the XAO rises some more,
I can visualise some upward momentum.

Disclosure:
I hold!
 
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