HGO 1.52% 6.7¢ hillgrove resources limited

Kanmantoo Copper mine ready to go ? For real ?, page-68

  1. 3,802 Posts.
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    Here is my take on the current and recent sp.
    The share issues have brought in a number of new holders who were happy to get shares at 5.3c being a little discount to the sp, and so thought that that discount would give them a margin of comfort prior to them seeing a profitable mine in 12 months and being able to double their money along the way. They would have patience, to a degree. But they are not the people "in it" for the big picture or the longer term. Not all new holders are in this category of course, but probably quite a few.
    Then the copper price - what word should I use here - languishes. It even recedes a bit. This is not critical to HGO, as the mine will be profitable at a lower copper price, and it will be producing for many years during which time the copper price will have much opportunity for excitement.
    But if you are not "committed" and you are seeing your 5-15% margin over issue price of 5.3c easing, then moving on and saying "not this one, not this time" to your expectation of doubling your money in 12 months is your way out.
    I think that this has been happening, and those of us who are "committed" to HGO are already well overweight (and so unwilling or unable to buy a lot more).
    But there is some accumulation happening between 5.4 and 5.7c so some demand is there, but no need for accumulators to bid up the sp to get reasonable volume.
    Those are my thoughts anyway.
    ....and if anyone is looking at ways to get the sp up, maybe have a loud word to a few people who have recently received BHP's $$$ for their OZL shares, and are looking for a new copper opportunity.
 
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