Ann: Kanmantoo Loan Agreement Signed and Hedging , page-7

re: Ann: Kanmantoo Loan Agreement Signed and ... Agree, the financiers have stitched this up..... they not only know what is going to happen, they can make it happen with regard to metal prices, IMO.

I hope DS is wearing an HGO hat, acting for all HGO shareholders.... and in his actions at the head of HGO, hope he never puts on a HIG hat or Financier hat. Hopefully, he will adequately perform his duties, heading HGO to bring a return to ALL HGO shareholders, past and present. Would hate to think the pre EGM and past years' shareholders are simply the fulcrum that is used with the financiers leverage to move the copper, gold and silver into the financiers' coffers.

Someone for HGO once hinted that the finds in Indo may be huge. I hope ALL HGO shareholders get UP TO DATE reports on findings from BH and Suma... would hate to think HGO may run into trouble and that potentially huge Indo finds disappear into the thin highlands air.

DS has a background in finance. It is amazing how SOME financiers can become so wealthy using other people's money, creating loans by an entry into a ledger, charge interest or put conditions to see that created money repaid in one way or another.

Stupidly, perhaps, I still hold HGO and hope to enjoy some rewards for doing so.... but should I feel surprised if the bondholders, underwriters end up with the lion's share and will profit when copper prices go through the roof???... should I feel surprised if banksters take over the company when the company ends up squeezed for cash, when the company gets penalized for hold-ups, not meeting production quotas etc, etc???... or whatever is written into the final financial arrangement.... see below*

* From the second last HGO announcement:

"While the Project Finance facilities provide less funding and the CONDITIONS ARE MORE ONEROUS than was ORIGINALLY ANTICIPATED by Hillgrove, necessitating a larger capital raising than was ORIGINALLY EXPECTED, the total package is considered reasonable by the Board in light of MARKET CONDITIONS. No equity was provided to financiers in consideration for their provisioning of financing commitments."

No equity provided to the financiers? Gee, that's big of them....

I'd like to have a good breakdown of the $2,400,000 ADMIN costs run up by HGO in the last Quarter..... hope the cash doesn't get burnt up too quickly between now and when production SHOULD start....