Yep the Judge should lose his ticket if he can't deliver a judgement in three months - what the hell is he waiting for? It's alright for John Gooding to try and push the shareprice but what he's not telling shareholders is that it's necessary for HIG to raise $300mil within the next six months or so to finance their equity share in the development cost of Frieda. Xstrata has to finance the remaining $700mil of HIG's total share of $1bil of the project's current projected cost of $5.4bil. This could be heavily dilutive given the current market cap of $175mil and is one of the main reasons why the price has tanked this year. Gooding would like to get rid of Ramu to the Chinese to finance some of this $300mil but time is closing in on him.
HIG Price at posting:
24.5¢ Sentiment: LT Buy Disclosure: Not Held
