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.
Kanmantoo Copper mine ready to go ? For real ?, page-152
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Last
5.9¢ |
Change
-0.004(5.60%) |
Mkt cap ! $125.7M | |||
| Open | High | Low | Value | Volume |
| 6.2¢ | 6.2¢ | 5.9¢ | $167.4K | 2.771M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 828750 | 5.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.0¢ | 618306 | 3 |
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| Last trade - 15.58pm 12/11/2024 (20 minute delay) ? |
| HGO (ASX) Chart |