If I promise to only post positive things about HGO, can I remain a holder?
I will promise not to mention:
- delayed drilling of Kanmantoo, despite having over $100m
- delayed report of diamond drilling results from Kanmantoo
- spin doctoring of poor DD results from Kanmantoo
I will avoid talking about:
- the capital management roundabout - paying dividends, then raising capital, then proposing a buyback
- Announcing a buyback, not doing it, and making the company look amateurish
I will desist from referring to:
- investments in non-core companies and assets whilst trying to obtain finance
- running a backwards mine development, where sunk costs are committed before finance is secured
- turning their back on multiple JV offers, without having Plan B finance secured.
- false claims of HGO wanting to be a multi-mine operator within 3-5 years, when that is not their aim at all.
You won't hear from me anything about:
- false setting of expectations to shareholders about when K will be financed and FIDed
- evasion of direct questions
- lack of governance of MD
- excessive remuneration
I won't complain about:
- promises made about trenching samples from WP, which have still either not happened or not been released
- lack of progress at WP
- lack of clarity about whether drilling will in fact happen at WP before the wet season, or whether we have missed another whole year
No more talk of:
- stalling on finance
- the ease of other companies securing acceptable finance terms
- ex-MD's running the company whilst partly resident in London
- Lack of strategic focus and commitment
- Behaving like a mid-tier mining house
And you won't hear from me any allusions to:
- underperformance relative to other copper companies
- the cost of capital of an inactive mine
- commodity and currency speculation, which is out of the money
And I won't mention that I used to be HGO's strongest and most vocal supporter. But with every false promise, the company has trained me and others not to believe anything the company says.
And if I have forgotten to mention any points that I have previously covered, which might be seen as a criticism (because I have probably forgotten them, as there are so many), take it is written that they won't be mentioned either.
Nope, I won't mention any of these things, unless DVEous, you want to actually discuss things that are relevant to your and others shareholding in HGO.
And based on people's thumbs, and what people say to me privately, I don't think I am alone in these concerns about HGO, its history and its management.
So, we might as well close down the HGO section of HC. Because with these topic now off-limits to criticism, there is very little left to discuss.
Yaq
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Price($) | Vol. | No. |
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