we are going to pull the trigger, i swear...

Over a month ago, HGO spoke to The Advertiser newspaper, in which Drew said they were within a "hair's breadth" of making an FID. He talked about two competing finance options.

Now at the time I thought to myself, "who is the audience for this media report, and why is HGO speaking to the media about it?"

It seemed very much like a threat to someone, applying pressure:

'We are a just about to do it, to commit. We are going to do it, I swear... so you better pull your finger out...'

The question is, to whom was this message intended? Was it aimed at playing one financier off against the other to increase commercial tension? OR, was it a message to prospective buyers that we are about to commit to finance, so you better make us a better offer?

And now this announcement. More of the same. Leak to the media, and then once it was reported in the media, HGO is forced to response to the rumour via the ASX, and reiterate the same threat - "We are about to commit".

What happened guys? Did the first threat not have the desired effect? I guess not.

I really can't take anything HGO say at face value anymore. They have just burnt through so much trust, and made so many promises and have so many unmet expectations, that I believe less than half of everything.

HGO is the company that cried wolf. And, it seems, even the financiers or prospective buyers aren't buying HGO's threats.

Yaq