Ann: Drilling Update for Kanmantoo, page-48

The operating word here is hope.

What you have said makes sense and common sense would say that the milestones being ticked off, particularly if they are on time, would reduce the risks.

More likely in my view is that the sp will not respond - apart from some short term spikes maybe.

Unfortunately I have owned shares in several companies in this position and not one of them ever had an sp that responded until the divy is in the bank. (Maybe I an unlucky investor!)

Note my words "In this position". I have had several startup companies or stable existing companies where the sp has responded to milestones, but never any like HGO who have had a failed project and are now on a new initiative.

Now I remain a big fan of the company and the project at hand. But unless there is anything is specific impacting the sp - I think we will dog along until the green stuff is flowing out and another colour of green flowing in!!

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