Howdi,Long time HRR believer (bought in at 55c.)If someone spend...

Howdi,

Long time HRR believer (bought in at 55c.)

If someone spend $63,000 on HRR they could buy EVERY share for sale. What effect would this have on the Shareprice? Would the market not like how illiquid HRR is... or would there still be plenty of buyers, and just no sellers... driving the price up rapidly?

Are HC HRR holders interested in selling? Or, like me, do they have a 100% long term view? I bought in about 18 months ago, with the intention of selling in about 4 years time... I finish uni June 2012.... so I may look to sell HRR in about 3 years time as I look to buy a house, get married, etc... but, these are certainly a long term hold for me. It doesn't seem like a day-traders stock... I assume due to illiquidity. 240M shares isn't an awful lot on issue... but it's still enough that, IMHO, liquidity would be expected to be better.

Can anyone please look at my analysis.

Current Market Cap around $50m
Current Cash $30M
Current Assets $90M
Current Debt $1M
By all accounts, fantastic managemnet.

Now to some questions...
Since September 2008, has the Yerilla NPV / Cost evluations changed? If Nickel is $9, is the NPV still $218M? (30% of which is HRRs?).

It has an 18 year life of mine... and as long as Nickel averages at least $9 over this, HRR is absolutly golden? Not even taking into account KNP, or the other tenaments? Just Yerilla by itself will provide a substantial reward to shareholders if Nickel is $9 average?

What was Nickel's max? About $26? And its about $6.25 at the moment.... $12.50 would seem a reasonable estimate of Nickel price over the next 18 years... Would that imply a NPV of over $2Bn, (30% of which is HRR's) for just Yerilla? Or, $600M+ NPV attributable to HRR? Say $100M is used for directors salaries / etc over the next 18 years... that still leaves $500M to HRR shareholders, and considering market cap is $50M...

What is people's opinion on KNP?

What other projects are HRR considering? Are the only ones of real benefit Yerilla and KNP? How is Kanowna South Project going? Langey?

What has the following announcment got to do with HRR?
17/09/2008 RBR: Rocky Dam Joint Venture and Malcolm Option Agreements

Are we expecting end of financial year sell-off? Or can recent good news negate this (and the fact that there are no sellers)?

Any information, correction, or affirmations would be appreciated.

Kind Regards,
Rhys