ignore the smoke & mirrors

It is worth noting that HIG is surrounded by a number of negatives that keep the share price well below some broker estimates (Evans and Partners). Eventually the negativity will go away once Ramu is cleared (one way or another) and Frieda is advanced one step further.

Some things to think about:
Tight Copper Market to remain for a number of years
Ramu problems will get resolved one way or another
Frieda will get developed
Research valuing HIG at 1.20 http://www.highlandspacific.com/research.html based on these things.

Research note says it all:
We value Highlands? share of contained metal at $35bn (based on current spot metals prices)... the same as Oz Minerals and 20% higher than PanAust. We also point out the current market capitalisation of Highlands is only $284m, vs. $2.5bn for PanAust and $5.7bn for Oz Minerals. Whilst not expected to commence production until 2017, therefore justifying some discount to its producing competitors; we feel the extreme disparity is not justified.
http://www.highlandspacific.com/pdf/HIG_Feb11.pdf