The release of (Tranche 1) 148,747,837 shares was announced on the 16th March 2018 and there will be another 193,752,363 for tranche 2 released too if approved by shareholders.
"Hardey Resources Limited (“Hardey” or “the Company”) (ASX: HDY) is pleased to announce that it has received applications for 342,500,200 fully paid ordinary shares in Hardey (Shares) at a price of $0.004 per Share to raise approximately $1.37 million (before costs) through a placement to sophisticated and professional investors (Placement). "
"Tranche 2 of the Placement, comprising of 193,752,363 Shares will be subject to shareholder approval."
This was and still is a speculative share and as an explorer they need to obtain money to fund the cost of finding what we are all longing for GREAT results from samples. I feel frustrated myself with the way the SP has dropped and shares diluted over the time I have held, but looking through previous announcements they still have the land and looks like they have the goods.
For now it is a wait game till heritage clearance has been given and cyclone season to finish and then and only then will they get the rigs in to drill. Considering the ASX was down and the shares released it held up pretty well IMO. RSI is oversold, OBV steady. Good luck all holders.
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These are my own thoughts and as always extra input is always welcome
