a follow on from gtn posting, page-12

re: hrr a follow on from gtn posting Sally

Show me the big picture.

Do you honestly think they can JV with a big player? Where are they going to get their money for their equity in a JV? If they raise debt how can they fund the interest payments?

My guess is that the best outcome for HRR will be a sale of tenaments to a big player - a similar situation to Comet.

Cant seem to understand why you keep harping on about shares on issue re MRE. Afterall you should know that proceeds of the rights issue where used to wave goodbye to the bond holders at approx 25c in the dollar. Now it has 461m shares on issue and debt free. By way of analogy, if HRR wanted to build a plant now and at current share price it would have to issue approx 10 billion shares to raise 2 billion dollars.