one of the best weekly charts , page-10

I have just been reminded about how clever HGO has been:

- sold ESG at $1.00
- remain exposed to a takeover of ESG, without any capital risk
- pay off that convertible note debt with the cash, at a much lower price than the future value of the scrip
- cash allowed HGO to move forward on Indonesian exploration, the wisdom of which is now becoming apparent
- allowed the cash to purchase a discounted plant while the market was depressed
- allowed them the freedom to negotiate hard on Kanmantoo, because cash was not required
- no hedging required for Kanmantoo

It really makes for impressive reading. The ESG sale has allowed HGO to have their cake and eat it. And I have every confidence that DA and the team will continue to deliver. They are in a fantastic cash and asset position to do so.

Y