Hi Allee,Those spikes in the short selling seem to confirm that...

Hi Allee,
Those spikes in the short selling seem to confirm that the Broker who wins the commission plus the options for selling the story to the punters ends up with some of whats required to get the placement over the line.

I guess he does his best to sell the shortfall that he takes up in the few days before he has to pay for them.

When he cant get rid of them without making a loss which reduces his commission the company has got a deal for the shareholders.

Hi Darp,

The current account deficit is cause for pause.

"Accounts payable stood at $13.7 million, reflecting the increased cost of getting to production. Current lease liabilities stood at $4.3 million, and employee benefit liability at $1.6 million. Other current liabilities were $3 million.Looking at accounts payable alone at $13.7 million and comparing that to the $10.2 million cash on hand, it's clear that HGO was running out of cash then."

Whilst it could be a good indication of the conclusion that it is "reflecting the increased cost of getting to production" the company has told us that that is not the case. Are they handling the truth badly or was the $25m forecast outgoing cash flow before first cash received, reliant on some extended terms from suppliers that would be repaid from incoming revenues?

Could well be a bit of both.


HI Benz,

What would be better would be an updated mineral resource estimate, new detailed mine plan and a forecast of how and when the plant will be running full so we can all stop wondering whats happening.