I would be more than happy to take up a heavily diluted cap...

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brightpower

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26/04/17

18:07

Post #: 24279909
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Originally posted by prawn_man ↑

No worries, I make blunders all the time, but hopefully investing in HIG isn't one of them. Cobalt has doubled in price this year, so the first quarter result may herald bettter cashflow in future quarters.
A couple of other points of interest.

1) HEG (Hill End Gold) in NSW has jumped from a fraction of a cent to about 5 cents in this month. Why? They announced a big issue of shares and options (check it out), stating that:

" The funds raised from this issue will be used for the continued exploration of the Company’s projects in and around Hill End in NSW, acquisitions and for ongoing working capital requirements."

OK this is a lead for HIG to follow. A good way to get much needed working capital and raise shareholder interest at the same time. Our cobalt and nickel prospects at Sewa Bay could do with capital. I hope the Directors haven't gone down the same route of letting a big overseas company take 80% and leave 20% for HIG. Surely now that Ramu is fully operational, the experience should give HIG the wherewithall to develop Sewa as the majority partner.

2) The results from the recent 2 holes at Star Mountains are not too exciting. However, these holes were many kilometres away from their 2015 result for holes at Ogal (i.e., Fune is 25 km away from Ogal and Unfin is 6 km away). About Ogal, the 2015 report said:

"At the Olgal prospect: 434.9 metres @ 0.52% copper and 0.72 g/t gold, including 100 metres @ 0.82% copper and 1.39 g/t gold from 76m downhole."

That result is a sign that there my be a monster hidden below. It is the reason Anglo Am went into a JV. To put the drill results at Fune and Unfin into perspective, if they were as good as Olgal, then the Star Mountains may be the biggest monster of them all. Only after more trial and error testing will a "bankable feasability study" be completed. So it is going to be a bit of wait, but hopefully worth it. (Don't have a clue about changes in HIG's share price.)

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I would be more than happy to take up a heavily diluted cap raising by HIG to bring the market cap.to around $200mill(2 for 1 at current prices) which will give them more options/flexibility on there many projects.It would also keep their bankers happy.

HIG Price at posting: 6.3¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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I would be more than happy to take up a heavily diluted cap...

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