HGO Position, page-2

Yes 3c would be a good payout on a 9c share

My comments are as follows:-

1. Its a tough ask to get a read on the PHES economics - I would love to here from anybody knowledgeable enough to make an attempt.

2. If the PHES offer is low ball then the management has said that they will not be sellers as selling will impact underground mining - so there is a floor on how low the offer can be.

3. My guess is that your guess on the value of the PHES is low - but its just a guess

4. There is no guarantee that any PHES windfall will be paid to holders.

5. The underlying mining business has to deliver to avoid the PHES windfall being frittered away.

6. The underlying mining business has to deliver to keep the sp up after any divy.

7. HGO has paid off its main loan. The main problem is the creditors which have not been paid in the normal course of business. you can look that figure up in the last annual report its a large amount that I doubt they will get on top of in this quarter without the PHES money.

Lets hope it all comes together/. HGO has looked promising before and has dropped the ball. 

But there are good reasons to believe this time...

Just my thoughts