Ann: Compelling Gum Creek Scoping Study, page-3

Just don't see how this project will move forward on the numbers they provide.
Not a lot of margin for safety if they do get into production, with low grades and... 14 separate pits!
Basically 1 good pit that will help supply the bulk of ore for years 1-4. Then, it's just small pits all the way.
I also don't believe the 5:1 strip ratio.

I guess I am very negative on the study for now, because it just is not going to move the dial.

Good to see they included pre-productions costs.
I also don't believe the AISC will be as low as they hope.

Anyway, HRN just continues to slowly move towards.... something close to a viable project, but... I just don't see it in the near term.

Good luck to patient holders!