Promotion on 22 July 2016 in Noosa, page-4

I’d be interested if anyone here can explain the disparity in the share price performances of HAV and DCN.

I don't know anything about DCN so I had quick at a recent presentation of theirs.

Looks to me like they have articulated to the market a "pathway to production". i.e early 2018 the company intends to be producing. That allows the market to pullout the calculator and figure out how much cash they'll possibly be throwing off in 18 months time.

HAV on the other hand, the vision they present to the market is that "within 5-6 years from existing mineral projects" they hope to be producing "at least 34,000 tonnes copper and 100,000 oz gold"

Big difference in near-term (visible) cashflow between the two.

Now then, as a HAV holder, I hope they can get Kalkaroo up sooner, but til that "line of sight to production" (as another company I'm watching put it) is established, I wouldn't expect the market to put much value on it.

Same with North Portia and the bedrock gold. Potential cashflow needs to be more visible, in my view, before the market values it.

In fact, if you look at analysts' reports, they attribute virtually no value to HAV's other projects.