from the horse's mouth, page-13

Rosencrantz,
I'm obviously missing something, I see no evidence that HGO is under attack from the back door, front door or any other orifice. Locally and globally hedge and super funds are running for cover in cash and bonds, not taking strategic positions in micro resource companies.With the global economy far from unclear it would be a brave CEO who would be betting the company's cash on an acquisition or merger, at this time.
In a few months time, if the global mess is sorted, HGO could well be a target, I certainly hope so.
Unless someone has intelligence to the contrary to share with us anything else is mindless speculation.