I read with interest this clip from todays Australian,
"Mr Galt said many executives believed there was still significant upside in metals prices even after the improvement of the past year.
People in the copper industry will still regard $US2.50 (per pound) as an ordinary copper price with a lot of upside,” he said. “An investor may not see it that way but the board of the copper company will see it that way. They will have a better feel of the market.”
Lets hope our directors have been cautious and not too ambitious at this critical stage. We definitely don't need any cash shortages in the next six months. With contractors all on their knees the option of creditor funding which was the saving grace early last year is probably not an option.
ARA have kicked the company hard enough while its down. Having to open up to more blows could be disastrous. Settlement of their carpark sale has happened so they will be wondering what to do with the loot. Any bad news from HGO would come at a very bad time for other shareholders.
Fingers crossed only 5 months to go.
HGO Price at posting:
4.8¢ Sentiment: Buy Disclosure: Held
