ResevoirDog, you make the salient point I have been making for some time on HC re the cashflow of this company. $10.6mUS for the quarter prior to exploration and development expenditure. Now a portion of cash flow would need to be reinvested into exploration to maintain reserves, however this is nothing like the $4.7mUS they invested for the quarter. Folks are posting the past few days that this is undervalued and is worth $1.20 to $1.40. I say, NO, it is worth closer to $2 and with each new drilling success it is worth more.
Some larger shareholder/s have been really hurt in this market the past few weeks and must be selling to shore up their situations. There is relentless selling, and as each good announcement comes out the selling persists. It must end soon one would think.
The half yearly result should be good, and boosted by the sale of Raccoon bend. If it is true that a broker's report is on the way, and we continue to have some exploration success, then I think we are in for a re-rating irrespective of this pretty ordinary market. I own over 500k shares and I am accumulating.
AMU Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
