Sydney-based Pacific Continental became a substantial shareholder on August 29, 2018, demonstrating confidence in Hardey’s vanadium and gold strategy.
This occurred when more than 409 million shares were acquired at a price of 0.4 cents per share.
Hardey’s flagship assets are its recently acquired vanadium projects but it also has gold projects in Western Australia.
Hardey to respond to ASX queries
The company is preparing to make an announcement to the market by this coming Friday, September 14, in response to ASX queries.
Hardey recently entered a trading halt pending the release of a response.
Last week, Hardey completed an updated study on four of its Pilbara gold projects highlighting the potential for conglomerate-hosted gold and polymetallic deposits.
The study noted exploration upside across all project, especially for conglomerate-hosted gold at Bellary, which is alongside Novo Resources’ (CVE:NVO) ground.
While Hardey’s priority remains developing its newly acquired vanadium projects, the board began reviewing plans last week to fast-track a high-level exploration program at its Pilbara projects.