HRR should sell and top up its declining coffers with $1.5 million (loss of only $400k). HRR was lured into GCR which needed another director to balance its board back to 3 Australians and 3 Chinese after HQ Mining had forced GCR's founder David Timms to resign. After a year of seeking a replacement and despite high quality candidates being available, none were deemed 'suitable' by the Chinese board selection committee..... Around this time HRR had moved into NSW exploration, had $40 million in its kick and was an obvious target. The hook was baited, thrown and taken; GCR had an extra $1.9 million and a new director in Ian Buchhorn thus re-balancing GCR's board. The HRR board which approved the transaction is a vastly different board to the current one and is likely to sell, notwithstanding the West Perth-based cheer squad of Sally_Will and Abcd47. Independent valuations? Apart from HQ Mining there doesn't seem to be much interest in GCR and the market has made its call on GCR's (and HRR's) valuation.
HRR Price at posting:
9.0¢ Sentiment: Sell Disclosure: Not Held
