Share prices continues to decline! Very interested to see the...

Share prices continues to decline! Very interested to see the next quarterly and what the company has actually done with shareholder funds during the last qtr .Also wonder how those sophisticated and professional investors who invested in Feb 23 at 2.5 cents are feeling?

Kate Stoney did state to the market in the last qtr report

“ Commenting on the work completed during the Marchquarter, Director Kate Stoney said: “A great quarter for Horseshoe withsignificant progress made at our flagship Horseshoe Lights asset. Importantly,our latest round of drilling has clearly demonstrated the potential to grow theexisting resource base with multiple zones of thick, shallow coppermineralisation confirmed outside the existing resource envelope. It isimportant to the significant potential at depth, with the multiple wide zonesof sulphide copper mineralisation at Motters intersected at around 200 metresbelow surface. We know that regionally these copper deposits can exist down to 1000m,so we have effectively only tested around a third 2 of the potential depthextent at Motters. Testing this potential will be a key focus moving forward. Horseshoeenters Q3 well capitalised following a recent well supported $2M placement andwe have a strong pipeline of exploration activity planned over the comingmonths which we expect will continue to demonstrate the untapped potential ofthis high-quality copper asset.”

There was $0.9m cash left in last quarterly (after cap raise mentioned above) , cash burn rate in first qtr was $0.968m , there was also $1.210m unused finance facilities (questions whether these are with companies under liquation) – assume the comments re “ enters Q3 well capitalised” refer to both the cash and unused finance and the later is still available.

Investmet dropped off top 20 shareholders when you look at last twoannual reports. So assume this is part of the sell off.

Director Alan Still exercises options with zero cost and sells on market600,000 shares @ 0.017 (31/6/23) – never like to see directors selling intoa share in decline

Interestingly C Hall who is also a director of AURISMINERALS LIMITED (aur) recently bought shares in that company from his ownpocket. Would be encouraging to see him an other HOR directors get someskin in the game with HOR through buying on market?

Delta resource mgmt in last annual report was still top shareholder –this company from what I can see is in liquidation. Interestingly info from HOR’s prospectus 2022 it highlights Two of the Directors, Craig Hall and Kate Stoney are employed by Delta. Assume this is no longer the case. It is amazing the interrelationships when you dig into the detail.

As you read more about this company through what they have announced tomarket – the more questions that are raised as well as understanding therelationships between entities and persons involved in this entity ? More reading is in progress!

Still a hold for HOR and hopeful mgmt can start delivering forshareholders.