hdr cash position, page-6

Acamas,

in the June 30th accounts, Hardman showed....

1. Current Assets of $270 million including cash of $223 mill.
2. Total assets are at $696 million - and unlike many explorers, the exploration "asset" will eventually be offset against revenue
3. Ching revenue - even depleted should be net $80 million in the next 12 months.

On this basis, Hardman is more than able to

1. fund its share of Ching recovery
2. fund its for forward exploration expenditure.

I fail to see the relevence to current affairs of the fact that....

1. Hardman made a $29 mill loss lasy FY - that was its last year as a pure explorer.
2. What the net cash was at Dec 2005 - its what the cash is now that matters.


Your conclusion at your point #8 that "That leaves just US$60 million or US$1.15 million dollars per week to run the rest of the business" has no basis in current reality.

Given cash position - and accepting your spend numbers - your statement should read....

"Hardman has just $270 million or just over $5 million per week to run the rest of the business.... "

.... and will in addition earn $80 million from Chingeutti -
.... and the exploration news from Uganda when more definite should excite the market (as it has excited Tullow buy clearly not Potter)
... and looks like we have farmed out Guyanne to Tullow, although us poor Hardman shareholders have not bneen told this by Potter as yet.
... and possibly Ching will be better - and there will be tie ins from tevet and possibly Tiof.

I just fail to see how you can say the company is cash strapped.

Sorry if I seemed rude before - but I am interested in the current situation - not some hypothetical alternate.