fairport
Yaq said it all really. I would only add that at the time the dividends were paid HGO was planning to bring in a JV partner. The dividends cost only $8.3m by the way. No doubt HGO or the banks also wanted a good buffer available to HGO for any unanticipated costs at K (like mine expansion or an underground operation which is being mooted).
H
appendix 3b, page-5
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