What price to offer for successful takeover of HDR, page-4

Chinguetti and HDR followers

Happy days !!## *** We were never in doubt about Ching 2 were we ????

Regarding a takeover value - I'm personally not thinking about it. My concern is purely with what price the market is giving HDR. Why? Well last year as I have already revealed I blew a very big profit because I was convinced that:

1. WPL would make a move on HDR
2. Even if Courbine failed then the potential for a takeover (and the intrinsic value in Chinguetti) would cushion the blow and support the HDR price.

I WAS WRONG ON BOTH COUNTS.

As the price fell leading up to the Courbine results I held - saying to myself that the market was wrong and that for the reasons above the price would surely not go below 60 cents and if it did it would not stay there for long. WRONG AGAIN.

So this time around I am not holding and hoping for a takeover. WPL will make their move when they are ready - and in the meantime they will let out as little information as possible as they did last year. I'd rather there was no move on HDR until after Banda comes in. And it will won't it mate??

GO HARDMAN

Cheers

H