with the first announcement they only have to fork out $500k and they get to drill the proverbial out of it before paying anymore ($3m for 75%) - they are aiming for 1.4b tonnes.
with the second announcement they again get to drill the proverbial out of it before forking over anything substantial.
In 6 months time HDG could be sitting on a jorc of 2-3b tonnes.
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If I was hdg I would drill it then flip it to an indian company before having to pay the big bucks.
HDG Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
