Ann: Mining Commences at Phillips Find, page-7

I'd say external factors do have an impact but the biggest drawback would be investing in management. Many perceive good management to be key factor when investing in a stock. HRZ management doesn't have the ticks on the board and there would be a reluctance to take a position until key metrics are ticked off. Whilst HRZ appears to be heading in a positive direction it's still a long way to break even for many shareholders. How many long term shareholders would be prepared to buy in now after watching their funds dwindle in this stock. It doesn't mean that this entry price isn't cheap but adding more and more to one stock isn't easy to do considering the history so far.

To have the share price drop down so far, the potential return has been eroded for many. Directors should not receive share preferences/rewards until the SP gets back over 20 cents at least given the increase in shares on offer. Current Directors need to recover the company's valuation and have it in a growth trajectory.

Investors will gradually come on board as positive steps are taken and the company's financials improve.