The recent share price decline appears to be the result of some...

The recent share price decline appears to be the result of some media articles which have highlighted the negative comments and out dated comments from HIG's annual accounts. People are therefore reacting to the continued negative sentiment.

The accounts recently released relate to the position of the company as at 31 December 2006. The audit process takes considerable time and was only finalized at the end of March (consistent with previous years).

Since 31 December 2006 HIG has raised USD20m and restructured the gold forward sales. Both of
these are very positive for the company.

The focus of the company remains the ramping up of production to around the 100,000 ozs p.a. at a good margin. HIG is well funded to complete the development of Kainantu and turn the mine into a profit centre.

ABN-AMRO as of 30 March have a buy recommendation on the stock with a target price of $0.41. They have done alot of anlysis which is sound.

$0.21 is very cheap and loyal investors should reap the rewards in due course.