Couldn't make it to the AGM but heard back that it went reasonably well.
It seems that they will have to overcome their short term cash shortage before proceeding to become cash flow positive.
They have announced that they have been virtually given a processing plant(worth abt $5m) and will be heap leach treating thier own and someone elses ore(pdp?)
Once this is in place they will be self funding obviously obviating the neccessity for future capital raising in the normal course of events(i.e. unless something huge eventuates)
They are awaiting assays from recent drilling for gold and continue to diamond drill an exciting prospect.
Nickel drilling on redefined targets (by Sara Dowling and others)is expected to recommence in Jan 06.
Well, I know you have all been waiting anxiously for an update, especially meerkat and belly, so for what it's worth, there you have it
'ave a good weekend !
HCY
halcyon group ltd
Couldn't make it to the AGM but heard back that it went...
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