Chart, page-2

I always anticipated HRZ to drop to 6c before what I believed to be would be a final move higher. However, more recently I have lost some confidence in this scenario -- fundamentally speaking, not technically -- and believe the bottom could be even lower. First of all, times are tough in the markets and global economy, which has certainly had an impact on HRZ. Secondly, the management, which I always considered to be the strongest part of this company, has made some pretty silly decisions. So much so that I am not sure that I fully understand what's the future plan for the company. We are all waiting for RVT to IPO (is that delayed?), but what then and what about HRZ? Also, what's up with the divestments these days? Are these solely pragmatic decisions, or are there any underlying issues that we are not aware of?

In any case, I have to admit that I offloaded a significant portion of my position at 10.5c. I did grab some more back at 6.5c and would most likely add more if there was a drop below 5c, but I am a bit concerned about the future of this company and the current lack of information with regard to when and how we will potentially have a more meaningful cash flow. However, I do wish to believe that Jon Price can lead this company to success, even if there are temporary headwinds.