The role of instos is usually overstated ..and their servants ..the analysts at the bigger stockbrokerages ...their value is certainly doubtful. Wilsons place a value of 0.51 on HGO ( post the August 2011 actvity release ). But for me it may as well have been $1.51 which is closer to where a likely prime mover would value HGO .
The prime mover here is a mining industry corporate with the heft and desire to make a strategic acquisition in an ( Australian) pure copper play.
They will be aware that the average worldwide copper grade of known copper resources is falling...from 0.9 per cent in 2002 to 0.76percent in 2009 ( according to research house CRU). And production of copper from the majors is falling..due to falling grades. Freeport expects production to fall by 17% at Grasberg mine in 2011 ( falling grades) and Anglo American�s mines in Chile are down 14% thus far in 2011 ( falling grades) .Similar story at BHP and Rio ( falling grades ).
My money is on a takeover offer for HGO within 6 months of it shipping its first concentrate .
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Last
5.1¢ |
Change
-0.002(3.77%) |
Mkt cap ! $106.8M |
Open | High | Low | Value | Volume |
5.2¢ | 5.2¢ | 5.0¢ | $166.9K | 3.269M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 1006410 | 5.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.1¢ | 66577 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
8 | 1006410 | 0.050 |
3 | 130825 | 0.049 |
2 | 80000 | 0.048 |
3 | 74150 | 0.047 |
2 | 31738 | 0.046 |
Price($) | Vol. | No. |
---|---|---|
0.051 | 66577 | 3 |
0.052 | 31581 | 1 |
0.053 | 924026 | 6 |
0.054 | 962730 | 1 |
0.055 | 1649059 | 2 |
Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
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