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
Add HGO (ASX) to my watchlist
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Last
8.2¢ |
Change
-0.002(2.38%) |
Mkt cap ! $170.6M | |||
| Open | High | Low | Value | Volume |
| 8.2¢ | 8.2¢ | 8.0¢ | $438.5K | 5.395M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 825696 | 8.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 8.2¢ | 148933 | 4 |
View Market Depth
| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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Last
8.2¢ |
Change
-0.002 ( 1.20 %) |
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| Open | High | Low | Volume | ||
| 8.3¢ | 8.3¢ | 8.0¢ | 1662882 | ||
| Last updated 15.13pm 24/05/2024 ? | |||||
| HGO (ASX) Chart |