any comment yaqona, page-5

yaqona

I've been out of circulation too. Good response and thanks for the comments. Once again I find myself agreeing with you. I have great respect for Archer and do not think he is in any way silly!! There would be good reasons for both selling the ESG stake now and paying out the bonds.

I had a look at the terms and the fact is that as at 1 July the bond holders were entitled to convert the bonds to shares .. as Archer said in the release 168 million shares!

I am happy to hold HGO as an ESG "option" and believe like you that HGO would not have sold their stake unless certain of a move on ESG. HGO should be over 32 cents now IMHO, and if a JV partner is found for Kanmantoo or drilling in WPNG is good, or ... ESG is taken over at $2+ then HGO upside is substantial. I like to dream of a takeover of ESG at $2.50+ (after a run to $1.50+ on reserves upgrade) ... giving HGO another $270m ... at least another 50 cents per share. Dreaming again!

H