@Chartwizard what exactly do you have against the current management of HRZ? Acquiring POS assets in what was genuinely a good deal for HRZ shareholders doesn't seem sufficient evidence of foul play, especially when POS management have since been booted.
From what I understand, Grant Haywood took over as CEO on 01/07/2023 and later MD on 18/06/2024. I can only judge by his track record:
- Merger with Greenstone Resources to double the gold MRE by obtaining long-life cornerstone asset (i.e. Burbanks);
- Joint venture & toll milling agreements for 200 kt of ore from Phillips Find, currently mining to schedule;
- Contract mining & ore sale agreements for 1.4 Mt of ore from Boorara, currently mining to schedule;
- Completed PFS for Pennys Find UG and moved Canon UG to 'mine ready'; and
- Merger with Poseidon Nickel to obtain the 2.2 Mtpa Black Swan mill valued at ~$150 M for only ~$30 M in equity.
He has taken 3x dog-stocks and morphed them into a prospective mid-cap gold producer in under 2-years, purging suspect management along the way. He is doing pretty well from what I can see and has been hitting most deadlines by +/- a quarterly. The only thing I don't like is his renumeration, but that applies to most directors.
Regarding Ashok, from what I can see he is still holding ~24 M shares valued at ~$1.2 M as of September 2024. I don't know about his history, but to me that is a substantial holding which reflects a vested interest in the companies long-term performance.
@donnybrook, for HRZ, I can't see the need for an equity based capital raise because they are going to be cash backed from now onwards.
However, I do wonder if they could engage in non-dilutive M&A activity or cross-shareholding. Grant seemed to hint at inorganic growth in the last few interviews. I don't know about the state of the Lake Johnson mill, or the ability to repurpose it, but to me that could be an interesting asset if they do a mill for equity swap with one of the many gold companies screaming for a mill, for example Auric (AWJ) or Astral (AAR). Lake Johnson is fortuitously close to the Astral (AAR) tenement, but again not sure about suitability etc.
Edit: A recent example of this is Sandfire & Boab Metals.
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@Chartwizard what exactly do you have against the current...
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Last
5.5¢ |
Change
0.001(1.85%) |
Mkt cap ! $135.6M |
Open | High | Low | Value | Volume |
5.5¢ | 5.5¢ | 5.2¢ | $525.7K | 9.805M |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 200000 | 5.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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5.5¢ | 1541059 | 5 |
View Market Depth
No. | Vol. | Price($) |
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1 | 200000 | 0.053 |
7 | 1460428 | 0.052 |
3 | 608235 | 0.051 |
12 | 584800 | 0.050 |
6 | 578872 | 0.049 |
Price($) | Vol. | No. |
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0.055 | 1541059 | 5 |
0.056 | 800000 | 2 |
0.057 | 736805 | 2 |
0.058 | 471385 | 3 |
0.059 | 1022436 | 5 |
Last trade - 16.10pm 16/06/2025 (20 minute delay) ? |
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