As you said in your message HGO does everything it can to minimise dust, noise, shock pressures. The culture at HGO is to try to keep the local residence happy, as they are vital in HGO renewing their mining lease every few years. The environmental aspect that I was referring to was the wild life on the lease. When the original Giant pit was decided there was an area called the bone that was meant to be mined. This area has shrunk due to wildlife needing an area to cross from one side of the pit to the other as the bone pit was going to be a long skinny pit. It was decided in consultation with environmental department's not to mine this area as this posed a risk to the welfare of the wild life on the lease. It doesn't affect the day to day running of the mine as there is still plenty to mine from other areas but does shorten the mine life a bit.
The TSF is fine for the time being and my concern would be for the later years when K was finished and HGO would be trucking ore from other areas they are exploring now. The Giant pit will be in primary ore soon and Nugent has high grade ore for the time being to pay the bills.
You brought up an excellent query about the folks up at Ardrossan would be difficult to appease. People should remember Coopers brewery buy most of their grain from the farmers in that area and have tried to make it difficult for RXM. People must also remember Mining rights over rides farming rights. It is in the mines best interest to try and keep all the locals happy, and this is why so much consultation with mine and land owners exist, but the reality is the mine will go ahead. Its just at what cost to the locals.
The soon to be released Qtrly in my opinion will be the best one yet. The lower debt will make all shareholders happy I am sure. The results from the exploration should be positive as it has been explored before with good results. This drilling program will confirm what they believe is there.
If you are a shareholder the next 12 months will be the most exciting time at K. There is lot going on and the strip to ore ratio will be good. HGO are doing everything right as a mine operator. I am also looking forward to seeing the Qtrly results and see how well they progressed.
Cheers Inflewinzer
HGO Price at posting:
42.5¢ Sentiment: Hold Disclosure: Not Held
