dodds and acamasVery well put in your last two posts guys. We...

dodds and acamas

Very well put in your last two posts guys. We don't know what's behind this fire sale (if that's what it is) and many of us do not believe its necessary (management could have got us thru this period of lower than expected (but much higher than previous) cash flow. The board's reasoning and KPMG's analysis in November will be very interesting although neither may tell the full story.

In terms of HDR's financial position I do find it completely acceptable as a possibility that ANZ may have become edgy about continuing HDR's facility given the Chinguetti situation and or something to do with the Federal Police inquiry, and that they may have been unwilling to advance funding for Tevet or Tiof development. Lilkewise having been burned with the 98p palcement the UK institutions may not have provided funding again if needed and the market may not have taken too well to further equity raisings and share dilution. If this turns out to be the case then the baord may have had reason to sell the the highest bidder. After all if we shareholders were unlikley to get a better return than $2.02 for some years .. we would indeed be better off putting our funds elsewhere.

I think a lot of our angst is because we have been involved with HDR so long and know so much about it ... and yet when we get to the end game we don't know why (yet).

H