You have to agree with the comments as stated that HIG are set to deliver on a number of fronts, with the drilling at Star Mountain now commenced, pre-feasibility on Freida due and a resolution on the Ramu disposal issue at that stage in the pipeline, so yes, HIG was, and still is poised for a significant rerate to reflect the true value of the assets. They stated that HIG was trading at 65% of their most conservatitve valuation, and the upside valuation was $1.26. Based on the numbers, I can't argue with that. This valuation was done on the 23 August when the share price was 25 cents, and two months later it's now 39 cents, so a good return for anyone following their positive recommendation. It will be interesting to see what the share price will be by Xmas. >50 cents I'd suspect with what's in the pipeline.
HIG Price at posting:
39.0¢ Sentiment: Buy Disclosure: Held
