On days like this ...

On days like this it is always worth remembering what Uncle Bob (then the Chairman of Havilah) said at the EGM held on 28 August 2013, particularly given the trading in the HAV share price today:

"The other misleading effect of the share price is the market capitalisation. Many brokers and investors use this as a measure of the value of a company. It is not. It is simply the price of the last share traded multiplied by the number of shares on issue. So if someone sells 10 shares at the bottom of the market at a low price on a Friday afternoon, it is meaningless to attribute one person’s exit decision to the value of the entire company. Even large companies are pilloried by this measurement.

The true value of a company is its income generating ability (or in the case of Havilah, its future income potential). Sentiment rises and falls with the market waves but our assets have generally increased in potential value over time, and will continue to do so as we add to the resource, advance the permitting and de-risk the future."

While the last quarter may have been disappointing for some, I continue to focus on Havilah's future income potential, particularly from the Portia Iceberg (El Dorado/ El Gordo), and look forward to the next ASX Quarterly Report due on or before 30 November 2016.



Cheers

These are only my random thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.