time for others to take up the mantle

This will be my last post on HGO.

No, I am not selling at current prices. I bought last week. But I have lost my passion for posting on HGO. Everything that I know about them - their value position, and outlook - has already been said, too many times over. And I think the thread will be far better without me challenging others' opinions so forcefully.

And the rigorous 'buy, hold and don't trade' approach, which has delivered strong results for me, can at times be just too frustrating. Some investors seem to have much greater patience than I do. :)


HGO is terrific buying now. It really is rare that any company trades at its cash position. Even rarer when that company has other significant assets, a near-to-medium term production outlook, high impact drill prospects, and so many free-carried option on an ESG takeover. Not to mention two mills, other smaller investments, and near-term resource upgrades in a strong commodity.

But, as you know, I have been frustrated at the rate of progress, and the 'clarity' of some reporting which left me not knowing what activities were happening at HGO. For all that I do know about HGO through my analysis, there is so much that I don't know. Perhaps too much.

In regards to ESG, I am still of the opinion that HGO's disposal was done with a belief in a takeover within 18 months. That is still my view. However, that clock is ticking, and with the unforeseen pump-rod failures, heavy rains slowing ESG's pilot progress, and now Mr Rudd's tax - that top-up is going to sail a bit closer to the wind than HGO might have thought. But, ESG will still go up the food chain. Of that I have no doubt. All these sorts of resources do. It is just a question of when, who, and how much. My money is on sooner rather than later for ESG. Hopefully, it will be settled before January 15, 2011 for HGO sake!


I will still post on HC, on other companies I have significant holdings on. And take some time to contribute to those threads where I have smaller holdings.

But it is time for some fresh ideas on HGO - I am tired of hearing my own rubbish over and over. I probably won't be at this year's AGM. It will be reported through the ASX anyway, and all resolutions will pass, with or without my votes.

Best wishes to holders. I am sure we will all profit handsomely from current levels, as HGO remains an outstanding risk/reward investment, as a cashed up small-medium sized resource company.

Y