Ann: Gold Exploration Update, page-9

On top of what I've already said, it might be worth to mention (just to cushion the blow of negativity a bit) that HRZ does have real tenements, relatively sizeable ones too, and some of them do contain proven and quite noteworthy resources of gold and silver. Of course, the question of 'when' (or if) will they be producing and what kind of (profit) margins will this production lead to remains in the air. Will we have any new significant findings? Another big question mark. As far as nickel and lithium are concerned, I am not sure what is management's plan, but I do get a bit bad taste in my mouth thinking that they may just be trying to get on the EV battery hype train... a little too late though. If I am correct, it doesn't strike to me as the smartest of moves.

All in all, if you don't know where to put your spare pocket money, HRZ may not be the worst speculation. It is essentally a leveraged bet on gold and silver and that the production will actually happen. The risk of losing money is very real, but the odds of making good money are certainly better than that of Saturday Lotto. However, I definitely wouldn't allocate _too much_ of my portfolio or net worth into HRZ.