Hi Benz,Lets hope times have changed and the new board learned...

Hi Benz,

Lets hope times have changed and the new board learned from the mistakes of the old one . The big thinker that got HGO involved in Indonesia certainly blew a lot of cash.

It appears that Lachlan is on a mission to over deliver on his promises.

Since he got the MD's Cap he has focused on getting Kanmantoo back into production. Its pretty clear that the strategic plan is all about making the most of all the resources in and near the mine lease which will require his full attention for the next few years. Peter also has plenty to exercise his skills on in the ELs that are already owned if he is not fully occupied increasing the resources close to the plant.,

I'm sure the board realises that making the most of HGO's current assets and building an investment quality company that pays a decent % of NPAT after tax in regular dividends and has a long mine life ahead of it will deliver the best value to shareholders and the highest market Cap that they can leverage off to fund future expansion in production capacity.

Its often possible to have a big win after the cash is blown.

Saint Barbara Mining was making massive profits on its Gwalia mine when the MD decided to blow the cash developing a mine in the Solomon Islands and another one in NewGuinea, probably driven by KPIs for all the wrong things. The Gwalia Goose's golden egg was zapped with losses, the institutions deserted in their droves, which sent the share price into a downward spiral. and created a multi bag opportunity for those who recognised that the Solomon Island mine needed to go. A new Managing Director gave the Minister for Mines $1,000,000 to take over the mine complete with the rehabilitation obligations. It went from 5c to $2.00 in 4 years between 2014 and 2018 but slowly went back to its current price of 17 cents.

Thats mining. They say you make your money when you buy well but exiting at the right time is just as important.