Shareholder Quarterly Report

HIG share price has increased 21% since the last report. Was 5.5 cents now 6.9 cents on increasing average volumes.
This may be due to many factors some are listed below.

China PMI up to 51.9, the fastest rate of improvemnet in last 3 years.
Copper price was 2.40 per lb now 2.63 a 9% increase.
Nickel price was 4.90 now 4.67 a 4 % drop
Cobalt was 13.40 a lb now 17.12 a increase of 35%
ASX 300 has only increased 4.5 % during this time.
Gold was 1227 an ounce now 1233 so is flat
Cash at Bank was 13 million now 14.5 million up 12%

So in the last few months a few things have happened.

Unfin and Fune in the Star Mountains assays are due to be released this month after Anglo Gold has been drilling.

The Feisabiliity Study for Freida River has been given to the PNG Government for discussion. Freida contains 12 million tonnes copper and 19 million ounces gold.

The Ramu Nickel mine is forecast to exceed last years production. HIG still on track to increase ownership from 8.5% to 20.5%.

Sojitz/Pacific Metals (Japan) have signed a MOU for Sewa Bay ( Normandy Island) and exploration to be funded by them.

Possibility of acquiring EL 1091.

HIG share of minerals at the moment.

Copper 2.5 Million tonnes
Gold 4.2 Million ounces
Nickel 238 million lbs
Cobalt 24 million lbs.

Some good news for PNG in particular Port Moresby is that PNG Hydro Development LTD a Chinese owned Company is proposing to build a hydro electricity station feeding that city and surrounds.