Ann: Trading Halt, page-59

Hi,

I note you comment on HGO no longer being in the running for your best investment.

I feel the same. For me that idea went away when Lachlan could not find any bankers to lend us the money - a piddling amount really. I have never seen such a useless and gutless lot as these bankers appear to be.

Having got that off my chest, I really think that getting more equity equity funding now is just more of the same - still a good investment but not a remarkable investment. Probably not going to deliver the kind of reward to compensate for the risks that us long termers have faced. Hgo has had several close calls and could have so easily been a total loss.

The issue is clearly the sp. Nobody has a good explanation for why it remains in the doldrums despite best efforts to promote the stock. For myself and Mrs mwilson25, the fallback was always the dividends. We had the one large divy after the end of open pit mining. It seems very likely that there are large franked ones to come which will salvage the investment. However the promise was always that this would be a multi bagger as well as getting the big divys. As the unrelenting stream of good news has rolled out, I expected the sp to be racheted up. It has not happened.

it remains baffling to me. I am scratching my head and some other parts of my body! Over the last two years, risks have slowly been removed - it’s gone from risk on to risk off. We are in a much better position than we were. Negatives include that stupid piece of junk drilling machine that was totally useless - however we did not have any real money on the line for this. Also the CU price has dipped and then recovered rather than showing a steady uptrend. But it’s ok now - fairly healthy with likely more rises to come. So why is the sp not higher?

Please do not level a charge of sour grapes at me. There is no need. I can taste the sour grapes right now. I can confirm right now that it definitely is sour grapes!!

So that’s my wingefest for the day.