HGO - Chart, page-79

Thanks VYR for your expertise which very conservatively values the HGO SP at 17.4 cents. This in itself is a bargain compared to the current SP.
HGO is the original bargain basement opportunity.
We are currently in all probability entering a period of high Cu demand.
We own the whole mining "kit and caboodle" - worth whatever - at least $500m +
Great access to market and cashflow - paid FOB Port Adelaide.
No FIFO and great access to staff.
SA Govt supportive.
Great community relations - awards for past rehabilitation of the mined landscape.
$235m c/f tax losses - no tax to pay for quite a while.
$17m + F/C enabling FF dividends for over $50m.
The current mine plan is just a starter to get the show on the road.

Mining companies are valued on Reserves and longevity. With over 6000 sq km of Tenements with very positive potential HGO will be around for the long haul and will gradually attract a generous PE ratio.