RE:RE:RE:RE:RE:RE:RE:Hastings Technology MetalsNeo has a shareholder rights plan that was put in place last year that would kick in if someone aquires more than 20% (Hastings is grandfathered in since they have slightly more than 20%). Hasting got the money to buy their shares from Wyloo Minerals. Wyloo Minerals is the company that bought out Noront Resources in Ontario's ring of fire. Could Wyloo be considering to buy Neo outside of their investment in Hastings? Their strategy is to acquire critical minerals for clean energy so Neo would be a fit. Of course there are other rare earth downstream miners that would likely find Neo a compelling aquisition to become a western mine to magnet supplier.
Given that 40% of the shares are tied up already among various funds with the poison pill, not likely anyone is going to make a non approved bid for the company. My guess is that Neo management became aware or even was approached by someone interested in buying the company. Likely not Hastings, but there are others who would like to have a mine to magnet strategy, and buying Neo would be a lot faster and cheaper than developing your own upstream business Likely not even possible for a downstream miner given the time to learn the technolgy, build facitites, and get customers.