lots of info to come in the next 2 months --too cheap to be real
these guys have cash and plenty !!
drill rig business running ful steam ahead company forecast of 8 mln ebitda means on a per of 3 times(which is what a private company would be sold for) means this business is worth 24 mln 5 mln cash at bank
on drill rig earnings and cash,stock is worth 23 cents a share alone ..everything else is for free.
liberator deposit -nt -drilling should finish next 3 weeks commercial decision on garnett businees due in a month
no 1 asset --coal ..thermal in indo ..should be producing in first few months of 2010 ..thats less than 18mths away
Annual report just released states coal 75 mln of rev pa for 12 yrs
garnet 25 mln of rev pa
these figures would have to be pretty conservative to be in the annual report
very tight share reg ..this stocks vol is huge
will only take one good announcement and where back to 30 cents with a back of the envelope value of circa 75 cents
too chaep to be real
HDN Price at posting:
12.2¢ Sentiment: Buy Disclosure: Held
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