Neo Performance Materials Inc T.NEO

Alternate Symbol(s): NOPMF

Chemicals Specialty Chemicals

Neo Performance Materials Inc. is a Canada-based company, which is engaged in the green energy transition by manufacturing the building blocks of many technologies that enhance sustainability. The Company's segments include Magnequench, Chemicals and Oxides (C&O), Rare Metals and Corporate. The Magnequench segment manufactures bonded neodymium-iron-boron (NdFeB or neo) powders and bonded permanent magnets. This segment produces bonded magnets (Magnequench Magnets) made from its various Magnequench powder grades. The C&O segment manufactures and distributes a range of advanced industrial materials. Applications from these products include automotive catalysts, permanent magnetics, medical devices, and wastewater treatment. The Rare Metals 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).

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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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