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HVY

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8.0¢ heavy minerals limited

Ann: Board Changes, page-8

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Cookiemycat

585 Posts.

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03/11/22

15:35

Post #: 64572403
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Originally posted by winsomelose: ↑

There has been a lot of discussion/theories about the project, the board of directors and the SP across the threads. Trying to mix a soapy wash of opinions (each to their own of course) in with the facts of the project just didn't cut it for me so I've decided I would add what I see as a plausible opinion.
The project - is sound, robust and expanding at a time where the product is in a growing demand sector. It won't take much to convert Port Gregory into a reserve which I expect would occur sometime after the planned infil drilling. Then the Red Hill site will follow the same lines as PG in time. I have not factored in grades for RH and assume they will be as good if not better than PG nor have I mentioned any increase in the PG resource which I also expect to happen.
The Board - has had some change and time will tell what that will mean. Wayne Richards has a very impressive track record and on face value brings more to the table than his predecessor who admittedly did a great job. Glen Simpson leaving is interesting given the time he has been involved but who knows what relationships were built between him and Nic and perhaps we will see them on the same board of a different company one day. I can only imagine the politics that goes on behind closed doors so personally I'm not surprised at what has happened with the board. It was noted by another poster that we will need another member on the board of directors which I hope (and confidently expect) will be someone that knows the Garnett/heavy minerals side of the mining sector very well. I am very sure that Adam Schofield knows where this business sits in its cycle of explorer to producer and this is the opportunity to make the right appointments.
The SP - is ugly but that depends on which side of the fence you sit. I've been able to average my price down however that's fine for my long term strategy. I appreciate the short termers aren't as jubilant perhaps exiting with a loss but that perhaps fits in with their strategy and appetite for risk. One interesting fact about the sales has been that the parcels have predominantly been rounded. ie 10k, 20k, 50k, 100k etc. I'm no guru but this could possibly indicate that some larger holders are exiting. The two ex board members may have had some sour grapes and decided to let it rip dumping their stock but who knows. My old man once said "some people have too many dollars and not enough sense (cents)". The next T10 or T20 will undoubtedly tell us who has been selling but more importantly who has been buying up the stock at bargain prices.
Anyhow that's my opinion and I respect that of others.

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non of the old board members can sell until sept 2023 coz their shares are in escrow. I think only small holders are exiting and big holders are averaging rn.

HVY Price at posting: 10.8¢ Sentiment: Buy Disclosure: Held
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Last 8.0¢		Change -0.002(2.44%)		Mkt cap ! $5.037M

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Ann: Board Changes, page-8

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Ann: Board Changes, page-8

Top Stories

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