throwing the baby out with the bath water!, page-43

Couldn't agree more Mike.

The share price is where it was 3 years ago i.e 0% gain and the commodity they sell is up 70+%. Every time the price tries to run the BOD hits us with a placement (4cps), placement and SPP (7.5cps), an acquisition by shares (CRE, failed to complete) and now a placement for 51% of the company. The usual guff follows that this is great for the company, rah rah. In my opinion all they do is cap the share price appreciation by issuing more shares and duck accountability (reduce costs, increase earnings per share) by changing direction.

Quite frankly though this is one deal I am looking forward to, a change of control deal. In my opinion it is what the company needs, a controlling shareholder to get the BOD and Management to reign in costs, increase production and reserves without issuing more shares. They will make Management and the BOD accountable. I am sure the BOD will protect their jobs(lock themselves in for a period of time) as part of the deal but if they don't deliver, I look forward to the wroth of the major shareholder. As it stands at the moment we are fairly toothless. We can stamp our feet and bang our heads and vent our frustrations on HC but the BOD will do as they please.

We sit here with a share price at 3.7cps (this is what REALLY matters for shareholders) thanks to the Chairman and BOD and some are worried about a large gold mining company willing to part with approx 1/4 of a billion dollars for 51% at a 35% premium.