As far as i know Saturn has no right to buy it back. Except if Pitt decides the price is right. Considering Hampton originally owned Apollo Hill & sold it to Peel Mining i would imagine that Pitt would have the royalty details loaded in his favour. I cant see the guy letting go of that royalty easily if at all.
The whole reason Hampton was delisted by the ASX was basically due to inactivity on the exploration front. Pitt refused to undertake capital raisings to fund exploration. As a consequence the ASX deemed that HHM was in breach of its listing as an explorer. Pitt is on record in ASX releases stating he did not want to dilute shareholders by raising extra money. That the share price did not reflect the true underlying worth of the company & royalty assets. That he instead would fund the operating expenses of the company from his own pocket.
Now there is a highly unusual Chairman of an explorer for you. Refusing to go to market for more cash because of dilution & will fund the running expenses of the company from his own pocket.
Hampton Hill holds a 5% gross overriding royalty on all gold produced after the first 1 millionounces from the Central Leases at Apollo Hill. These leases cover approximately 140 squarekilometres enclosing all the resources defined to date and where the vast majority of drillingmetreage has been completed. The royalty is not limited by time or onward production targets
STN Price at posting:
27.0¢ Sentiment: Hold Disclosure: Held
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