Hiru Corporation (HIRU)

[hardlesson]

Divest, you've posted some nice timelines, let me add this:

Of course dates, and links, and articles don't show the complete picture of what happens behind closed doors.

If you have been reading up on Geoffrey Summers (one of the guys in the Passport photos) you have found out that he is/was a large shareholder in Mallee, and thus the Avebury mine.

He is one of the "locals" shown in various articles that has been trying to acquire the asset/Avebury mine, with the backing of an "unnamed Middle Eastern organization."

He has been fighting/negotiating/clashing, with an Offshore group, namely Hartree Partners, backed by distressed specialists Oaktree Capital, and also the "Majority shareholder" and debt holder in Mallee (thus Avebury asset). His clash involves that Hartree has been offering much smaller bids than he has for the Avebury mine. (Parts of Mallee, I don't know) One offer that Summers made was 112 Million, with his ME backers, that was rejected in favor of a smaller bid from Hartree.

My guess, is that if we're factually talking about Avebury here, that potentially an agreement has been reached between these two entities, possibly their receivers. Possibly even a partnership? That would be the only way that HIRU could post pics of this mine, and list the accomplishments they have on otchiru.com. IMO.

I think this is one reason that HIRU is so adamantly insisting they are not associated with Mallee.

https://www.afr.com/companies/financial-services/oaktree-trading-house-squares-off-against-shareholders-for-nickel-mine-20240701-p5jq4j

https://www.delisted.com.au/company/mallee-resources-limited-1633926692/

https://www.theadvocate.com.au/story/8688692/more-shareholders-calling-for-avebury-nickel-mine-sale-inquiry/

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If Geoffrey Summers is still involved here, he's an interesting character in the Australian mining world.

Of course the above could all be way off base, but it's my nutshell of what's in the links above. I'm just a hack trying to understand this power struggle between Summers and Hartree. I'll never forget too, that big business will go to any extent to gain an advantage when millions are on the line. Both of the above could potentially have a lot to gain or lose when this all said and done, imo.

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Lastly, Avebury might really be off the table at some point, and Copper or some other mine might be the reality over time. Either with Summers, or someone else. We know what we need next. all imo. Respects.