i can't see this one getting to $3 to be perfectly honest.
Despite all the number crunching done to date, further capital raisings wouldn't surpirse me as HDR/WPL etc continue to bring Chinguetti into production. I could be wrong, but we've already seen the cost estimates basically double since the very first estimates were put down on paper, and I think we'll see further blow outs in time.
Such dilution will stunt HDR share price growth and they really need more commercial discoveries to catapult the price substantially back over the $2.00 mark.
To be honest, HDR has been a major disappointment for a long time now. It hit $2.40-ish early in March 2004, and the faithful haven't been rewarded for thei patience as we approach the end of 2004.
Coop
HDR
hardman resources limited
