In light of the 'put up or shut up' announcement made by ESG today it seems that there is no other explanation for the delay in FID other than HGO being confident that an offer for ESG is just around the corner.
Patience is a virtue and there are plenty of rewards here for the patient HGO investor.
In light of the current ESG share price and the number of players that must be looking at ESG the reward of such a takeover may result in a windfall gain to HGO of between $40 - $100 million dollars. HGO management should be commended if the delay in FID is being caused by ESG and I guess it would be a tad silly for HGO management to come out and openly report this to the market. Needless to say that a takeover of ESG would mean nofurther issue of HGO shares and no borrowing money ... a formidable position for a company to be in.
Even though this may be frustrating for holders I am happy for HGO management to stealthily play this one out ... good luck HGO management and good luck HGO holders.
HGO Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
