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Hardey Resources gains new substantial shareholder in Pacific Continental Holdings

The 15.44% holding has come with the acquisition of more than 409 million shares.
Australian bank notes
Hardey is primarily focused on its recently acquired vanadium projects

Hardey Resources Ltd (ASX:HDY) has a new substantial shareholder with Pacific Continental Holdings Pty Ltd securing a 15.44% stake through an on-market transaction.

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.

READ: Hardey Resources completes study revealing Pilbara conglomerate-hosted gold targets

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.

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