It was interesting to see a large off-market transfer go through yesterday....ie circa 460k at 40c. I'm sure most aren't watching as closely as I so I can let you know a bid for 500k came up at 0.39c and then a while later the transaction went through.
I would love to know the background but I'm guessing the buyer is an insider and the seller is a frustrated long term holder.....I'll be watching for any change in substantial holdings notifications over the next few days which may shed some light.
I just want to remind SH's of a couple of recent CEO comments:-
1. "We will be increasing the resource as quickly as possible" Very much on track IMO
2. "Our objective is to develop a standalone mining operation" They wish to do this via tolling contracts with other mills in the region thus eliminating the need for large cap-ex funding which is a positive.
As soon as they have proven this company can make money we can look forward to a sale to a large regional player or a merger with an aggressive neighbour to obtain great synergies including for HRN SH's improved market liquidity.
Yes this may take 12-24mths to play out but the rewards will be there......just hold and be patient....if its good enough for Warren Buffet its good enough for me!
DYOR GLTAH
HRN Price at posting:
44.0¢ Sentiment: Buy Disclosure: Held
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