The Board is running this mine to ensure their and senior managements long term salaries and poor performance share issues.
Before restructure HGO was 8 cents ps. Now they are equivalent to 4 cents ps. If that is defendable performance I'll walk to China. Mine improvements, sacked contractors, hedging, reduced debt money in the bank and the share price has halved since September last year following restructure.
And that was after a massive mark down in the share price before restructure. Have a look at their 5 year graph. Its a disaster.
This management needs a massive rocket under them. Too comfortable on over inflated pay packets and egos. And some on HC say they are good. What a joke.
HGO Price at posting:
36.0¢ Sentiment: None Disclosure: Held
