not good enough, page-2

Gajah

The sp has fallen along with copper and the markets IMHO .. nothing more, although it is disappointing that the AR hasn't been more of an inspiration.

The reality is that more than 50% of HGO is already owned by the "big guys" .. institutions ... and this percentage grew significantly with the last placement. They took 250m shares .. so don't expect them to be still buying now .. maybe if the share price goes back to their 25 cent price!

The only way more large institutions will buy in I reckon is if the mine life is extended to 10 years or more and that's what HGO is working on with the near-mine exploration this year.

fair criticisms on the "errors" in the AR. Isn't the oxide ore operation what they have been doing for some time as a pre-mining test of the ore? This has brought in a little revenue and yes it will finish later this year because the ore will be going through the mine plant by then?

Sumba news did come out in the AR in that it said Pelitalira results were low grade gold but they hit good copper and gold grades at the bottom of one hole and hence they think that they need to drill deeper to look for a high sulphidation epithermal system. We will get the detail in the quarterly due by 31 May.

H