Clark888, thanks for your ongoing insights, which I (and...

Clark888, thanks for your ongoing insights, which I (and obviously others) really value.

I’ve been a shareholder since the initial listing and, over the past 15 years, have heard so many quarterly and annual reports of the company ‘about to break out’ yet rarely has any development had an effect on the market. I’ve also been frustrated at the company’s seeming inability to sell itself to the market although, to its credit, Havilah has been doing much better over the last couple of years.

I agree that finalising a native title agreement is no doubt critical. But what happened also to talk of Havilah looking to pay a dividend from Portia, possibly to be announced in January 2017? I’m convinced that any dividend would have a positive effect on the share value (and would be rewarded by the market much more favourably than reinvesting in future projects).

Picking up on the blog by Bakerrrrrr, I thought it was said earlier that the company was expecting to yield half of the estimated $40m value of Portia by the end of 2016. Yet we’ve seen no recent mention of those sort of $, with the last quarterly report showing a considerably lower bank figure, even taking into account the cost of new machinery (which wasn’t specifically costed).

In the meantime, I’m getting beaten around the ears by my wife, who is frustrated that the $ invested in 2002 would have achieved a better return from a term deposit! It’s great to see projected share values in the $3-4 range. And I understand the entreaty for shareholders to be on board for the journey. But IMO, some of the proceeds from Portia need to be used to refund what it's cost us to be on board. Otherwise, 15 years is a long and unprofitable trip for those at the back of the Havilah bus..!