They are taking a very long time to get the loans together for the lead Smeltor......tis quite dissapointing. They had the share purchase plan, and then the share placement to sophisticated investors of another 18m (which should have raised a total of about 1/4 of the funds needed), but they have not seemingly been able get any further funding. I thought they were now just going to the banks, but tis scary that they haven't been able to convince anyone.
Irrespective of the above, their basic business should be earning much more money right now. Lead, Zinc and Sellenium have all improved in price, and they predicted that this quarter they would produce lead at nearer capacity......so it will be very interesting to see their full year results
HMC Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
