Ann: Activity Report for Quarter Ended 31 December 2021, page-12

Now I am very hopeful for the Komatsu MC51 to make good progress for a range of reasons (it is good for HGO, innovative, an Aussie creation on a Japanese base, lower carbon footprint, new mining possibilities).
But it is new and in hard rock and just starting out prototyping a new approach .... so expect difficulties and delays and slow initial progress ... and we have some indication/statement of this from HGO announcements.
So any specific statement from HGO re the Komatsu MC51 operations is likely to be viewed by the market as "progress on critical mine development tunnel unsatisfactory and a long way behind schedule, thus raising questions about mine viability", and thus may depress the sp and impact on raising finance or cost thereof.
So I think that HGO is "on a hiding to nothing" if making any specific statement about the Komatsu MC51 (until, and if, it matches or exceeds expectations.
We must remember what the Komatsu MC51 is doing and not doing. It is a low-cost, subsidised, deferred-payment test of new equipment (which if successful will give us green credentials,caccess new funding types and subsidies, and new development options) which will advance a 500m tunnel six months earlier than conventional means following FID (which option is still available to HGO). It is not costly, not critical, and will not compromise mine development.
So staying silent and giving prototype operations a chance is fine by me (though I am desperately curious to know), and it is prudent commercial practice.
Patience is prudent!

However, if there is an announcement of "below-expectations" Komatsu MC51 progress and the sp recedes, I will be aiming to top-up my already (happily) overweight position in HGO.