Ann: Quarterly Activity Report and Appendix 5B for 30 June 2024, page-20

Thanks Alee,




That chart shows HGO's share price being rewarded handsomely between November 2023 and Jan 2024 as milestones in the development of the mine were reached. The drop in copper price started the decline which everyone was experiencing but then out of the blue came the capital raising we had to have at the end of February to put the accounts in order. The fact that it was under subscribed and the underwriter got stuck with a pile of shares that he mercilessly sold sent the SP back down to the Freeport line. Then out of the blue once again in July came Lachlan's departure and the beginning of the Short position build up.

Worth remembering that when we hit a high in Late Dec the copper price high was only $3.92 and the company is a much safer bet now than it was then.



The 20% drop in copper price since May certainly has been the driver of those long positions dropping back and everyone loosing a lot of MC.


Ivanhoe did very well during Dec and May. How come its trading on a PE ratio of 92 ?