In my view, the current raise and spend equates to cash splash, going for the sky before we are comfortable with the BS mill upgrade. Instead if we use the 30M dilution to mill expansion and the remaining from gold sales, then we are in the driver seat.
But now we have just increased our risk of ending up spending all while production is not progressing well.
If management is able to share the info transparently, truthfully and publicly it will be fair to the SH, then I am sure no one will have the urge to keep calling while the time could be spend more productively.
The reason the SH are "disenchanted" is because of the SP, CR (still difficult to logically justify), forever delays in gold production and income generation etc etc.
There still a big opportunity for HRZ to become a successful producer not just by luck (while drilling) but by planning and doing the right stuff. JIMHO
HRZ Price at posting:
4.6¢ Sentiment: Sell Disclosure: Held
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