Ann: Sale Complete of Ineligible Shareholdings from POS Merger, page-25

There is some talk about low shareprice, manipulation etc. Ignore the short term price fluctuations, its just noise and is actually irellevant. Focus on the value of the company. Is it increasing? If the answer is yes, then the shareprice will follow. Fundamentally, price of gold and silver is moving in the right direction, management acquired great properties with huge exploration upside, they have a mill which needs just a low capex to adjust to gold processing. They have two agreements in place, which will generate enough cash to finance the refurbnishment. They are doing the study on that at the moment. It all takes time, but once they deliver and start using their own processing favilities, the market cap of this vompany will be a multiple of the current valuation. We need some 2-2.5 years and then the valuation might reach 1 billion. Might HRZ be taken over before at a fraction of this? Well, I think its very unlikely. The shareholders know what they own and would not support a low bid offer. Also, HRZ is currently not an ideal takeover target, so I dont see it as a risk. The price is still cheap, so anybody who is not yet invested should use the opportunity. The risk/reward is very attractive. I am so far invested only in 2 ASX companies and this is one of them. Last but not least. We dont need more promotion. We just need hard work from the management and the team. The rest will come. GLTA.