Well, we now know what was being said before on HC - they are...

Well, we now know what was being said before on HC - they are preserving capital which is sensible.

So, as before, they would now have sufficient capital for the next 4 quarters - ie 12 months. Those who were insisting that they'd be doing $10m/quarter and have to do a Capital Raise in Jan have been proven wrong.

Admin costs were about $5m/quarter as per their last quarterly, which now would be much less. How much we don't know. There will be no more exploration costs so admin/C&M only.

That's the only silver lining out of this. The placement of the shortfall might to be at risk though although my feeling is that the SP will gradually recover. Not sure if they can extend their end date.

Agree with others that continuous disclosure has been a problem. Macro issues still suck but there's an asset here that has a future. Let's hope they get the finance right. Beancounters doubtless have shakey knees so expect a longer delay that we'd hoped.

Cheers