Ann: Kanmantoo Loan Agreement Signed and Hedging , page-4

re: Ann: Kanmantoo Loan Agreement Signed and ... Hi Hardmano,

I like your posts :)

However, let me quote a small section from Charlie Aitken's report this morning:

"...Not only that, but somebody has cornered the LME metals market. LME data confirms that one unidentified company owns between 50% and 79% of all the LME copper inventories.......This is a classic squeeze play via cornering the inventory in the world's biggest metal market, and you could see last night that LME metals reacted strongly.....yet inventories are very low and supply constrained ahead of demand picking up from the world's biggest economy. That is so bullish."

IMO the bankers have forced HGO to drop its trousers close to what, IMO (and Charlie's!) will be a major upward trend in copper prices over the coming few years.

All upside for that 40k tonnes of copper is lost to HGO shareholders (not to mention the 53% dilution at a 19% discount as part of the FID).

This hedge will, IMO, be 'out-of-the-money' very quickly and by a large margin.

I have liquidated my remaining HGO holding today to place funds in better copper prospects that will enjoy the copper ride ahead.

Cheers
John