It is good to have robust conversation and there are a lot of good points raised.
Let's strip this back a bit.
The reason for Nic leaving is pure speculation only. These changes, for various reasons, do happen a lot at the small market cap end of town in particular. I am not sure how anyone can come to a conclusion either way, particular with any relevance to the scoping study outcome (which was a very positive one I might add).
We are a 9m market cap company, with an EV of around 7m.
We have two projects.
We have completed a maiden drill campaign and have already proven up a resource and provided a scoping study around it.
There is every chance that with further drilling we increase the LOM as we increase the size of the resource.
Our resource is next to one of the largest producers of Garnet globally. If you believe the strong rumors (hint) GMA are running out of their high quality garnet and possibly blending with garnet they are off taking from elsewhere. We have this high grade garnet.
We have Red Hill to be drilled and from what I hear could be superior to the Port Gregory resource but let's wait and see on that.
Have a look at the announcement today by MRC. GMA are looking for more Garnet to be provided to them which is very interesting in itself.
I wonder why that could be? Refer above. Who knows, it may even be easier for them to get the high quality stuff from a neighbor, maybe not.
Moving forward in the future if you were in the market for a long term supply for garnet would you rather do business in India, China, or Australia (Port Gregory?).
I know where I'd rather go.
My point above is there is a long way to go however the scoping study was very encouraging and now we move onto further drilling and further feasibility studies from here.
We've had posters who are unhappy with the share price movement after the scoping study who have said they have no idea about Garnet.
We have one who stressed the importance of holding long term as in investor who sold not long after - for a loss of a grand total of $300 and was willing to provide us all with an economics / investment 101 course on the timing of investing.
It's not like we have run from 10m MC to 40MC and then we are back to a 10m MC as a result of behavioral finance / timing of investment theories have we? We've never been a high momentum, buy the hype sell the news stock. We are thinly traded, the Top 20 owns nearly 2/3's of the company and a few small retail holders who were hoping for their sugar hit didn't get it and so they move onto their next sugar hit
All when financial markets have been woeful all year..
It is a long term play, however the potential is certainly there for HVY.
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Open | High | Low | Value | Volume |
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9 | 172100 | 0.100 |
1 | 35000 | 0.091 |
5 | 82332 | 0.090 |
2 | 131212 | 0.080 |
Price($) | Vol. | No. |
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0.110 | 53544 | 2 |
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