Ann: First Ore To Be Processed - Boorara Gold Project, page-43

I tend to agree with some of that. Meeting timelines have always been HRZ managements weakness regardless of who was on the board. Now is the opportunity for new management to change this around but it is not a good start imo - this POS deal is really long to finalise and should have been set for very early in the new year maximum. Then the Boorara delays with personnel, Water pumping etc. It is more of the same unfortunately, but we can only hope 2025 will see them tick all the boxes and turn the timeline issues around. If so, you will see a lot more confidence and a lot more buyers arriving.

The positive with the delays is that the gold price, particularly in aud, is moving to new records so we will have much higher prices to sell our gold and therefore a larger profit margin. The loan will be repaid rapidly, meaning a lot more money will be spent on the development of our numerous other near term gold mine assets. I also hope there is sufficient budgets for exploration because we have great ground in the region.

Still a lot of games being played on the share price perspective, I honestly can’t believe we are back in the 3c channel but crazier things have happened! For longs it’s not the end of the world, but I suppose for shorts who want to cash in for the holidays it is not ideal and they will be forced to take a sizeable loss.

The positive is a lot of the big gold producers are moving strongly right now so generally this liquidity flows down to smaller producers and developers afterwards. Hopefully that big money will start to arrive soon and we can re rate and at minimum, return to that 10-13c channel which most long term holders will remember as quite a stable time. Then launch from there as production ramps up!

Sadly, the market is a bit of a joke now, gold conditions, prices etc have never been better, we have many more gold mines on the books and we have got rid of the x lifestyle directors - yet somehow we are still stuck at 1/3 of these old share price levels when we had the bare minimum and low gold prices. The ASX is crazy sometimes.