HGO FUTURE, page-6

So we closed the week at 3.5c whoopy !

All my figures and calculation are just rough on the back of the beer coaster.

If we give the board a possible 25% capital raising option, today's diluted closing price would have been 2.6c

If they used the 25% raising at what price would the offer be at as they are always at a discount due to dilution and making it attractive offer , especially if it is to a "Sophisticated Investor"

We are looking at something around 2.0 - 2.2c if we are lucky and that's if we have the opportunity to participate.

JMHO but my gut says we are being set up for some body or bodies to walk through pick up our treasure from under our noses. The possible new owners will turn HGO into a Chop shop. Possible parcels .

Parcel 1 - Accumulated Losses and $17M franking credit Parcel 2 - Fully operational Plant in centralised area. Parcel 3 - Huge amount of resources proven by extensive drilling etc..

Conservatively the value of HGO assets are somewhere between $60 - $100m ?? We currently have about 600m shares on issue which would have a break up value in the 10 - 15c per share. This is our money and we should not be put at risk of loosing these assets.

Just a gut possible scenario.