Presumably any capital raising would only go ahead if Ariadne was ok with it and most likely they would be the underwriter similar to the convertible note issue a couple of years ago?
The processing of the ore should be finished about now and that should have turned $10m of inventory into cash. The annual report seems to say they could go with 12 months on the cash on hand plus the inventory so there shouldn't be any super need to a raise for liquidity purposes? At the current market prices a capital raise to fund any new project would destroy far more value than would be generated.
Interesting times!
HGO Price at posting:
3.5¢ Sentiment: Hold Disclosure: Held
