As I recall the bones of the Sulphide deal were sketched out in the Diggers & Dealers presentation - which didn't move the share price. Of course there is a lot to fill in. I suspect the market will wait for a detailed drilling schedule & likey target(s) before giving any blue sky - I agree from what Ian has said that the sulpides area of HRR are potentially huge. I am beginning to think that the HRR price is partly refelective of Ian's managment style - which, while not understated, is not big on spin. On balance I think shareholders are much better off in the long run with this approach. Some Junior MD's if they had an asset base with HRR's quality would be huge on spin - it might drive the price higher, but it would be significantly more volative.
I think potential corporate activity rather than exporation is likely to be the key price driver over the coming months - In fact it was corporate activity that largely drove HRR's price earlier on this year. So, we three possible spin offs - i think, togehter with the BHP factor, as possible price movers. I reckon BHP is far from done with HRR - The Inco deal(s) are not exlcusive, so there still remains the potential for BHP and HRR to form a JV. In addition, as I have said previously, BHP could still raise its stake in HRR. These things however are hard, if not impossible to predict in terms of timing. I'm not currently in HRR but will look at getting back in if something happens, or if there is further price weakness - it may that the price of HRR will get ridiculously cheap - although it is holding in the 50s - a cheap price in itself.
Cheers
HRR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
