Ann: Strategic Review-HIG.AX, page-3

They have plenty of cash so I suspect it is a case of conserving funds as they clearly expect it will be some time before Frieda moves to development and, with current nickel prices, Ramu is not a cash cow. Star Mts is a great project but still greenfields and whilst most exploration is funded by Anglo it is also years away from a resource possibly being identified. So it looks like a holding pattern to me. The major issue and concern for me, as someone who has held these shares for 8 years, is whether that means HIG will take the money and run in PNA offer them a low ball figure for Frieda. This would massively undervalue its true worth to shareholders.