"Sold down on panic that it was not a viable going concern due to an article written in the Weekend Australian. Whilst we acknowledge that HIG remians high risk until Kainantu operates profitably we feel the inherent value more than justifies the risk. The article was written as at 30 december position, since that time $20M has been raised which has considerably strengthened its financial position. We currently have a valuation of $1.04 on HIG. Interestingly the bulk of the valuation is not in the underperforming Kainantu gold mine but in the interest held in the Ramu nickel mine which we value at 52c per share. Last price 20c - 12 month target price 45c"
HIG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
