HRZ Management and Future, page-9

Should Greenstone holders vote to come in with this merger the current decent holding (due to the rising gold price) may provide faster revenue from Philips Find and Burbanks North (permit to mine as open pit to depth 35 meters (only) for 22,400 oz).

Cash flow from declared contracts to mine is what will push HRZ back up.

We need those announcements and maybe those deals are near completion so as to get Greenstone holders to votes 75% required by the Corporations Act. It is a big risk of not getting there in my opinion, many large holders are peed off with GSR directors just giving themselves 37,250,000 unvested performance rights if the merger vote succeeds. If the merger vote does not succeed GSR directors will get the second strike at the AGM and miss out on their performance rights.