Ann: Change of Director's Interest Notice - M Black, page-7

Hi,
I've been a shareholder of HCH for a couple of months because I just like the story ie the country, the copper abundance in Chile, the macro picture in which I strongly believe (the big infrastructure push in US and some other large countries whose infrastructure has fallen behind the Asian Tigers') plus the most likely continuation of fiscal stimulus programme in US, EU and China which should support the commodities in the near to medium term. The strengthening price of Cu is an additional reason that makes me optimistic regarding the Cu producers and advanced explorers one of which is definitely HCH. However, I must say that in light of all the reasons mentioned above one could not help himself being deeply disappointed with yesterday's price action. There is always a question of expectations being already factored in the share price, but even the greatest bulls must have been pleasantly surprised with the MRE and the further outlook. It is true that it takes some time for the results to be digested by the instos, yet it is still very underwhelming. Is somebody deliberately pushing the sp own or the long suffering shareholders who had enough are bailing out it is hard to tell at this point in time. The drop in Cu inventories reminds me very much on the scene from Ayn Rand's book Atlas Shrugged where the main character is looking for ä piece of copper", or something like that. I do not believe that some of these major
Cu producers are not just sniffing around, but also actively courting CE. Yet, the sp barely moved and it is almost insulting. What the hell did the market expect! It works in a mysterious way...
I suppose we should find out in due course. One can only hope that patience and stamina will be rewarded...
Good luck to all of us!