Hi Tasmania01I think your question about a possible share...

Hi Tasmania01

I think your question about a possible share consolidation is a good one.

Some leaders in the mining industry, like Bill Beament from DVP and Raleigh Finlayson from GMD, are clearly fans of share consolidations, as both DVP and GMD have consolidated their shares since each of Beament and Finlayson became their respective CEO.

Speaking personally, I was once a fan of share consolidations, but am no longer. My initial attraction was based on the psychological factor of not being seen to be a ‘penny dreadful’ stock. Apart from that, I can’t see what clear benefit is derived from a share consolidation.

I know if makes no mathematical or logical difference, but for some reason a 1 cent increase in the share price when you have 1 million shares is more exciting to me than a 10 cent increase when you have 100,000 shares.

From a corporate perspective, there is one thing I would personally like to see the company spend some money on at the appropriate time, and that is to change its name, for two reasons.

First, it appears some people in the market place confuse HGO will the ill fated Hillgrove project in NSW, which is an unhelpful association.

Second, a change of name would put some distance between the company in its present form and the company in its past form. We have a new board and a young management team. We are about to become an underground miner. Our past is checkered. Our future is bright. I think a change of name would not be that expensive, but would appropriately mark the company’s rebirth.