Ann: Change in substantial holding from HHL,HHL-BLK.AX, page-7

There is lots of gold.
The plant does work.
There is also lots of sulphur and the plant can't process ore that contains to much sulphur without rusting apart. This means that the gold is going to stay in the ground.

As for management. Never met them, but, all you folk here on hot copper say they're a bunch of good blokes, so, that must be true.

As for HH... they must be taken Ng a long BV term view with a gamble on the development of as yet undiscovered technology that enables extraction of the gold. Me personally, I'd wait for the market cap to drop to $2m before taking a small position, at which stage some banker can come along and repeat the whole pump and dump.