Hi benz, I hope you’re well.I’m pleased with the quarterly...

Hi benz, I hope you’re well.

I’m pleased with the quarterly report. The graph on the first page of the report says it all for me. Production is growing. AISC is falling. Add the 31% improvement in liquidity from the March quarter, and it’s fair to ask, ‘what’s not to like?’

I understand the disappointment which has been expressed by some of the other posters with the reaction by the market, but I personally think whoever said ‘the market is always right’ was wrong!

I’ve given up caring what the market thinks about my core investments, like HGO, at least for the time being. HGO remains a strong hold in my portfolio because of its numerous positive attributes, which have been spoken about regularly in this forum, such as the location of its mine, the fact that it does not rely upon FIFO workers, it is debt free, it has a strong board and strong management, and it has an ideal major shareholder. Its big risk is the price of copper, which clearly it cannot control, but which it has mitigated with its hedging.

Whilst I would prefer the share price to be higher, I am looking forward to the time when HGO’s profitability and liquidity will enable the payment of healthy dividends. Until then, what happens on the sharemarket is really just noise.

Cheers