HRR Value - 20c+, page-10

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Sweetsound

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09/06/20

19:18

Post #: 45120476
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Originally posted by Sally_Will: ↑

@absolutely clueless - Agree with you totally. The whole Woodlawn story is a joke and not only that, the board and management (unless by some miraculous miracle they turn things around) should hang their heads with shame.

It is obvious that HRR board and management totally discarded the massive landholdings and tenements that had been amassed over the years by mainly Buchhorn in both W.A. and N.S.W.
By divesting those assets into Ardea Resources with a market cap today of $35.7 million and containing the largest nickel / cobalt resource in the developed world and not only that, the N.S.W. assets were then divested by Ardea into a new company in Godolphin Resources (which listed 6 months ago) and now with a market cap of $13.25 million. So in actual fact the market cap of the original divestment, or maybe a better word, discarded by Heron, has a total market cap of $49 million and Heron's market cap is a paltry $20 million. Nothing smart about that, in fact just plain dumb!!
To add insult to injury, not only did Heron discard the largest nickel resource in the world but also a gold resource of 450K oz and growing together with other valuable know metals and rare earths.

Yes some at Heron should hang their heads in shame!!

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Despite all that, the infrastructure is still worth a lot more than current mc. It'll take a while but once plant is back up and teething problems are ironed out, share prices will head up.

HRR Price at posting: 5.5¢ Sentiment: None Disclosure: Not Held
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