kingfisher1, page-3

Acamas,
I must admit that I too cannot understand your almost obsession with the thought that HDR were / are in financial strife, that they may not be able to meet future requirements. Potter himself states they are in good financial position, they have $139m in the bank, they are even considering reducing their debt facility ("Hardman may elect to reduce the size of the debt facility, which was originally arranged to provide funding for the Chinquetti development").

But even if you really believed there was a cash problem (now or in the future), HDR always has the capacity to sell down some percentage of their holdings. Think of the tidy sum they could pick up for say about 10% of their Uganda equity (and still maintain a large 40%).

No, your view just doesn't stack up and certainly does not justify what has happened.

I am anxiously awaiting the explanatory document but on face value this continues to look like a massive capitulation by people who are supposed to be acting in their shareholders interests!

If only we had a John Fletcher or Rick Allert steering the ship!!


dodds