Yes their capital structure is a bit stuffed. I usually make a rule of not investing in companies with more than 500 million shares on issue (and will usually sell if one of my investments breaches that level). It, and the rule not to invest in companies with "CON" notes on issue, have proven very reliable. Broke my rule here re capital structure - here's hoping I don't regret it.
The quarterly just released was OK, just enough to suggest to me they are turning things around...if they keep the positive momentum going, then the next quarterly should be a vast improvement. And I think one good (ie very profitable) quarterly on top of the one just released will get it moving. That's a bit of a wait though obviously.
At the moment its looking like I pulled the trigger a little early unfortunately.
Sent an email query to them on Friday about their forecasted production costs for this quarter, yet to receive a reply. Hope I didnt waste my time.
Cdchi1
HGO Price at posting:
7.9¢ Sentiment: LT Buy Disclosure: Held
