re: nothing holding it up, except fundamentals? There may be...

re: nothing holding it up, except fundamentals? There may be some insto selling but the placement was 3 to 4 times oversubscibed and as HIG is going into the asx200 in March the insto's will need to own it. The SPP is different to last time as you have to be an existing shareholder to participate whereas last time you could buy 100 shares and then get the SPP.

There were some very good insto names bidding for the placement and they were dissapointed at getting scaled back. The financing for the Kainantu mine will be announced shortly which should be a positive.

Also with nickel going amazing higher overnight, the probablility of Ramu going ahead is getting greater. Just on the their gold resource I think HIG is worth more than the current price and will be keeping a large part of my holdings for much higher prices.

I have to admit I sold a few that I got in the placement this morning but I am just about to buy them back.