Ann: Board Changes, page-257

Thank you Raphius,
Fair question.
I believe CE is absolutely focused on maintaining his original long term vision of creating another Equinox or OZ Minerals. When you talk with CE face to face his focus and vision is visceral. The chart you share is not relevant. It's a classic Lasonde Curve. HCH was WA1 15 years ago. Blue Sky Mining with fresh epic drill holes creates a market frenzy dreaming of limitless irrational upside, which eventually crashes back to earth with an MRE followed by boredom. HCH is trading well below its risk adjusted NPV. While the probability of CE or a major putting this assets into production is perhaps greater than 50:50. If you are a Trader, Trade Exploration Companies with Technical Analysis. If you are an investor avoid Producers at market caps anywhere near NPV. The sweet spot (In my humble opinion - this is not financial advice - I am not a financial advisor) is predicting which, under valued Developers with Tier 1 assets that will eventually be put into production or taken out by a Major. The probability of CE putting HCH into production is lower than the probability of a takeout by a major ONCE HCH HAS BEEN FULLY DE-RISKED (=DFS). HCH still has risk ! However I maintain that CE is an entrepreneur who is focused on building this and the worst case scenario for shareholders is a takeover by a major ONCE DE-RISKED = DFS.
To the impatient HCH shareholders who are unwilling to endure the next 1-2 years, please put yourselves out of misery and sell. The Top 20 balance of power shareholders are unlikely to entertain ANY offers at all until the project has been fully de-risked. BTW if you are speculating in the developer space and you don't expect dilution or capital raises or dilution by streaming or royalty deals you are delusional. If you don't think HCH or a major will put this asset into production then please sell and buy BHP.