It looks like a JV deal is already done, pending the MARP. Because HGO say:
"A structured process to identify a preferred investor is underway and this process is expected to conclude by the end of the year, COINCIDING with the approval of the MARP."
In order to get the JV announcementb to 'coincide' with the MARP announcement, it sounds like there is a deal, pending the MARP APPROVAL.
If West Papua rock chip samples are anything like those found in Sumba, we should see some strong buying. WP appeared to be the target that was emphasized most by the company (ahead of Sumba). It should be a good few weeks.
Also, it sounds like HGO will fund at least part (if not all) of their portion of the capex using finance.
All in all, I was happy with the report. Heaps of cash, a JV to be announced within 3 weeks along with approvals, and elephant hunting news due from WP.
Thoughts?
Y
HGO Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
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