Ann: Additional Information - Quarterly Activities Report, page-48

Well done. HGO has to be a favourite starting at outside chance odds. My Uncle Henry would say its a bloody certainty.

I got a brokers report yesterday which tells you how crazy the market is.
I raise it only because its a prospective porphyry Copper Gold Explorer with Els in Victoria a bit east of our SE tenements.

All it has is 1,500 kms of exploration leases and some low grade resources (HGO 5,600 kmsq) It burnt $23m this year and will be burning cash at the rate of $13m for the next three years and then needs to find another $220m in 2025 to earn revenues of $228m in 2026.

They have a Market CAP of $130m and the broker recons they have a value of $200m

As opposed to that HGO has a market cap of $60 which is supported by
*$300m of plant Equipment and tax benefits
*4x their ELS in Area
* will be producing a similar amount of revenue 3 years earlier.

I won't be rushing to buy any SVY