Ann: Corporate Presentation - February 2018, page-13

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Hey, am out now but will still follow as I like the story. I doubt he reads. Nice guy but in a different reality to me. I am shocked that there has not been a revolt by their insto investors. As if emr etc are happy torching money and going nowhere whilst there’s a late-cycle resources bull run underway.....yes there is value here if they get it together but it is probably another year before the approvals come and who knows where risk appetite will be then. Not what they indicated at the time of the last placement - which was an appalling mistake on my part. Not to mention costly. Had I put that hfr cash into A2m or one of my better ones I’d be retired now.

Every now and again you come across a company where management are simply on another planet to investors and their legitimate concerns. Hfr is one of those companies.

Ps pls don’t see this as a bitchy moan. I’m definitely moaning but I do think the project has much merit. And at some stage I will look to buy back in.