Fair call, they did suck, GL all

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Sabre1973

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26/09/18

15:21

Post #: 35857556
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Originally posted by AAbatteryboy ↑

I have sympathy for shareholders that were burnt by the company in the past. I really do. But the continual venom directed at the current BOD by some posters regarding the companies performance from years past is completely unjustified IMO.

Hill End Gold, the company that people invested in perhaps 10 years ago, is completely dead in everything except the name and that will shortly be rectified when the name is changed to Pure Alumina.

I believe that Tolga and co vended the Yendon asset to HEG is because they knew the gold assets were undervalued due to the companies previous poor performance/direction/management and these could be sold to fund the HPA development. I guess we’ll find out pretty soon if that is correct.

Hopefully the $9m figure quoted in the annual report was based on the assessment completed by PCF and reflects the market value of the assets - there would surely be an obligation to ensure this was the case. Perhaps this number is also based on the indicative offers that we expected to receive in August;

View attachment 1311977

Remember that HEG was valued at over $100m at some point so they must be worth something.

If we can realise even half of the $9m that would mean that we have $6.1m cash against a MC of $9m. Sell for $9m and we are trading at less than cash value. Either way, we should see enough to fund the DFS without a cap raise.

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Fair call, they did suck, GL all

HEG Price at posting: 6.6¢ Sentiment: None Disclosure: Not Held
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Last 0.5¢		Change 0.001(12.5%)		Mkt cap ! $5.206M

Open	High	Low	Value	Volume
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Fair call, they did suck, GL all

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Fair call, they did suck, GL all

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