agm, page-15

Grangeh

now thats a bold move.

thing is I have some HGO shares that are in profit but I really dont want to get rid off to get some more.

Looking at the agm handouts.....nice little map page 5 comparison between u.k areas with the size of australia. Have not seen this map used before....

Not alot of the handout was new to be expected but this does appear like a sales pitch to me, which it should be.

Given the low volumes recently and the need for a JV partner to not only want a 15% grab of a new issue but I would think a 11% slice of what exists, the only way I can see is for four or five of the current majors selling. Otherwise the SP could run 6 fold on accumulation only, let alone results or new programs.

Just thinking aloud, could this work.
share buy back with 5 million+
pushing SP back to 14.4 or more.
bond becomes available, funds get released.
JV is forced to act as options start coming into their own again and still have a year to run.
QGC is forced into paying for 40% of exploration on the targets we know they are interested in anyway but may not get the final control of.

Man if only this market was a little more cashed up at present.

oh and yes to Rob
Thankyou, very muchly appreciated.