Would really say they've been diluted heavily. 67 million shares on issue atm, really not that much. In terms of liquidity, this is a long term dividend play which. PFS like to show net profit around 40mil a year, probably better should the garnet price increase. Those that are holding long term are holding tight. This is a hidden gem on the asx and the management have played it well. There will be those that try to get a piece of the action and that's going to drive the SP up as they pay the premium to get in. Garnet may not be a sexy mineral but it sure will be a profitable one for the company.
Looking forward to the PFS which should be out in the next few weeks I'd expect, surely can't be too far!
HVY Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
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