Merkin,Thanks for your reply which I have read and thought...

Merkin,

Thanks for your reply which I have read and thought about. The main area over which I have reservations is how would HDR survive the next 30 to 36 months with only a 20% interest in The Ching Field as revenue producing as a balance for their outgoings during that time. They have had a Placement and ANZ bank loan to help them meet the next 18 months committments and I believe it is these sums that make their Cash in Hand look attractive right now.

If they attempted to go it alone how will they pay their way from month 19 onwards. Nobody has been able to show me a funding source to see HDR through to when Uganda comes on stream which I think is about 30 months away minimum.

Woe be tide any more problems such as redrills. I do not wish to get involved in a war of words with anyone. I honestly cannot see Institutions or Banks throwing money at them. The Placement was done in London I assume because they were unable to get one away in Australia. If these people will not entertain HDR why should shareholders I ask myself.

I have expressed my own views nobody else's

I refuse to call Mr Potter school playground names as some have done on this BB and have tried to put some skin on the bones of this situation by detective work.

There is little more I can add. I am disappointed that HDR appear to be going to the wall because two years ago their prospects seemed very bright sadly they now appear anything but bright

regards

Acamas