Neo Performance Materials Inc NOPMF

Primary Symbol: T.NEO

Chemicals Specialty Chemicals

Neo Performance Materials Inc. is a Canada-based company that provides advanced industrial materials, rare earth magnetic powders and magnets, specialty chemicals, metals, and alloys. The Company's business segments include Magnequench, Chemicals and Oxides (C&O) and Rare Metals (RM). The Magnequench segment production of permanent magnetic powders used in bonded and hot-deformed, fully dense neodymium-iron-boron (NdFeB or neo) magnets. The C&O segment manufactures and distributes a broad range of advanced industrial materials. The RM segment sources, reclaims, produces, refines, and markets specialty metals and their compounds. These products include both high-temperature metals (tantalum, niobium, hafnium and rhenium) and electronic metals (gallium and indium). These powders and bonded permanent magnets are used in motors, which are used in various automotive applications for hybrid, electric and internal combustion engine vehicles, and micro motors for household applications.

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Neo Performance Materials Inc > Hastings in big pain

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Post by templetooth2on Jun 17, 2024 11:41am

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Post# 36092150

Hastings in big pain

from my CEO post:

Wow! So two years ago, Hastings was over Aus$4 per share and financed the Neo share purchase with a convertible deb. with a coupon of "Bank Bill Swap Rate" plus approx 5 basis points (BBSY) plus 9%. From what I can see, they must be paying about 13.35%. These debs appear to be convertible at Aus$5.50 per share and mature August 2025 unless there's some fine print I'm missing. Currently, Hastings trades at Aus $0.26. Obviously, this busted convertible is likely to lead to Wyloo owning the Neo position or control of Hastings.

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