Back in April 2016 when the price dropped to us $ 1.90 the exchange rate was 77c and the cu price was Au $ 2.47.
The instos rushed for the door and drove the price down to 2.8c. One could have exited on 3X a year later. Hanging in didn't work out too badly ,what with the capital raising at 3c and the fully franked 1.5c dividend that followed.
They should very soon be in a position to pay out 70% of the first $100,000,000 of cash flow franked at 25%. Thats 3.3c a share franked up to 4.4c .
Staying in might work out pretty well.
HGO Price at posting:
6.4¢ Sentiment: None Disclosure: Held
