I can see the concerns re the share placement. I look at things...

I can see the concerns re the share placement. I look at things from a different angle. I think there is no way a placement would take place at these levels. Don't see any chance of anyone picking up a large % of HGO at approx 3-4 cps. Also, Lachlan and ARA would not sit by and see their holding diluted and dirt cheap prices. That would be extremely dumb. Push come to shove, HGO could borrow money from normal avenues, and possibly from ARA.
I think this share placement is getting put in place for further down the track. Lachlan has been in charge for nearly a year. Things are changing. I bet he would love a higher share price, as he has millions of shares. See how the AGM goes.
If the company does not make money and progress ug, I would hope ARA would step in and sell the remaining assets or the whole company. It is worth more than what the shares are selling for.