my dear meerkat

We obviously share a common interest in the success of Halcyon. So, why not try to be a little more positive. I'll try to put my perspective on things at this point by providing my comments alongside your recent posting which I note must have taken some effort to bother with.
I urge you to look at the big picture and not simply dwell on what may appear to you to be impossible hurdles, or by your perception, impractical or inept arrangements made by hcy. Sure, we are all frustrated that HCY has taken not yet performed over the past 12 months. Rome wasn't built in a day, and HCY's developmental barriers are not unique to this end of the market. So, although we all become impatient with stocks that take longer to perform than what we hope for, or disagree with some decisions that are made, we should endeavour to understand why such decisions are made in view of the circumstances prevailing at the time.
My commentary, for those interested is within the brackets below.

1. HCY believes Bardoc is good prospect - and for what it's worth it 'probably' is.

(I can only concur with your sentiments)

2. They blow the budget on a series of TOTALLY DUD holes. This is why they haven't released anything, they want to bury the result. If they released them the sp would vanish to 1c, and they don't want that because of their proposed placement.

( They are in the exploration business. Expenditure of capital on research and drilling is a pre-requisite for discovery of minerals. Would you seriously suggest that they sit on their hands and administer the company from the office and not spend money on drilling what have been identified as likely targets that could host minerals?. Is it sensible to criticise them for doing their job? They have advised that at this stage they have no intention of making any placement whatsoever as they now have $1m in the bank and MRE funding all nickel drilling. Additionally , I understand they are talking to a number of companies about a joint venture for extensive gold exploration. So, before you write the company off have a further look at the tenements and take note of another company which has a 30% interest in some good land. I held FCN for a year at 16c and sold at a good profit. In hindsight I wish I had hung on longer, but such is the nature of speculative share trading. As many fcn punters would have discovered today, speculative share prices certainly are a fluid "investment" )

3. In any event, if the recent results were great it would be the first time in mining history a good result was kept secret.

(In accordance with Corporate reqirements, companies are obliged to advise the market of anything of significance which may affect their share price. So therefore your point is probably correct in one sense. They probably haven't found anything yet that would significantly affect the share price. However, wouldn't it be an objective observation(or assumption) that MRE consider the information to date meritorious enough to invest a considerable amount of their capital to investigate further what they probably judge areencouraging results to date?)


4. No money now, and they still think Bardoc has prospects - what to do?

($1m in the bank; low "burn" rate now;mre allowing hcy to co-ordinate the nickel drilling campaign( with a continuous involvement as jv partner of course)

5. Ring around and find/persuade someone else of Bardoc's prospectivity.

(as above)

6. MRE takes the bait, probably thinks it's worth a punt after HCY has shown it everything it's got - EMS, geo results, drilling cores. BUT MRE hasn't been shown any commercial grades from HCY's work, so they do a deal...

(they must be fools????????? AND you obviously know more than them!!!!????)

7. MRE agrees to partly fund the next drilling round - BUT demands 70% of anything found because of the speculative nature of the venture. I mean if HCY had found good grades, why p!ss around with MRE at all?

(again, as above !)

8. So boys and girls - MRE's involvement with HCY is NOT because HCY has found something good, but because HCY has found ABSOLUTELY NOTHING!! it was because of this HCY had to find a partner. This achieves two things....

( you're now confirming that mre execs are fools !!!!!??)
( By the way, mre aren't the only ones who consider this land to be among the most prospective for nickel in WA ! During hcy's due diligence process prior to commiting to explore the Barcoc for nickel, a number of eminent nickel consultants gave their opinions in a strongly positive attitude to the anomalies and the area generally ! It's quite close to the Scotia and Silver Swan nickel mines)
9. Makes HCY appear respectable (when really it's a dogshit company) due to MRE association and also falsely bolsters HCY's share price until after the placement. And of course MRE isn't really committed to anything of much financial significance and takes the biggest share of the pot in case anything is found.

(You seem to be asserting that 20% or 30 % of a significant nickel mine possibly worth billions is insignificant)

10. The upshot is that MRE is involved with Bardoc precisely because HCY found nothing. Imagine trying to hide that by saying the assay labs are too busy... do they think we've just got off the boat?

( Why not give them the benefit of their experience and judgement on this one???)


Yes, it's all the product of my imagination of course - but fits all known facts.

(no comment)

11. I nearly forgot, pints is still a dead-set pr!ck for continually touting the prospects of this dead-sh!t company. Yes, it might find something, but you can be sure HCY is working hard to hide the fact they've so far found nothing.

( no comment)

Now prove me wrong.

( I and all the other shareholders hope they do prove you wrong. But I believe many of your points are baseless and without sufficient foundation. Furtermore, I venture to say that you are letting your emotions run wild and "venting your spleen" in somewhat of a subjective nature!)

I think we can expect, subject to the agreement of the jv partners, that an extensive nickel drilling program will commence as the new year does !

Finally, with another jv in the offing, for gold exploration, and an existing beneficial arrangement with
a major nickel producer, I for one, consider the future prospects of this company as good as any currently in the out there in the field actively looking for gold and nickel

Halcyon days ahead ?????!!!!!!!!!!!!!!!!!!!
Let's all show some confidence. After all we are experiencing an historic period of "boom" conditions with a strong nickel price; gold heading for $500; and India and China expanding at an unprecedented pace.

Perhaps we could now hear commentary from someone associated with MRE?????????

Bye for now