I think with the low copper price they need to go to plan B which requires proving up the resource to increase throughput.
This in turn requires extra labour.
With the copper price sitting around $1,000 per tonne lower than the feasibility study this has chopped around $65 million off the three year revenue forecasts. Ouch!
This is now becoming a high risk game for HGO.
If HGO does not announce revised resource by this Friday (as they said they would) I suspect this stock will get sold off heavily.
I can hear the Freepoint cheer squad trying to talk this up when in reality this is now becoming a high risk game for HGO.
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6.3¢ |
Change
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Mkt cap ! $132.0M |
Open | High | Low | Value | Volume |
6.5¢ | 6.5¢ | 6.2¢ | $318.5K | 5.001M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 34930 | 6.3¢ |
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Price($) | Vol. | No. |
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6.4¢ | 329384 | 2 |
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No. | Vol. | Price($) |
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1 | 34930 | 0.063 |
7 | 686190 | 0.062 |
6 | 602014 | 0.061 |
16 | 813816 | 0.060 |
3 | 616966 | 0.059 |
Price($) | Vol. | No. |
---|---|---|
0.064 | 329384 | 2 |
0.065 | 150000 | 1 |
0.066 | 140000 | 2 |
0.067 | 443798 | 4 |
0.068 | 254144 | 2 |
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