To me the pits. mining leases and mills are [could be] a neat package. I think that providing the gold price stays around here, if the HRZ management do not produce a credible mining plan, sequencing the pits with mill requirements and costs, in a reasonable timeframe, another management team with expertise in these areas will come forward and I will vote for them. So to me there there is significant downside protection if I am patient enough, as this management team will have had plenty of time to create a functioning mining company. The key issue is to ensure they do not issue convertible debt to a 3rd party at this stage, as a screwed up capital structure is difficult to unpick [eg CYM etc].
Happy to hear different views...
HRZ Price at posting:
4.9¢ Sentiment: Hold Disclosure: Held
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