Don't be misled by the closing price. less than 100k sold for that when someone was cleaning up their sale and there were no buyers fuelling the lift in price.
The day started well up, with 1.6m traded at 8.9 followed quickly by 660k at 8.7 and 500k at 8.5c
If you want volume you will have to pay for it.
Looks like we are being primed for a positive quarterly with the early redemption announcement and mine life extension opportunities.
Copper and Gold galore.
Looking forward to the half cent rises when we pass 10cents and the possibility of trading at a decent P/E ratio when the profits are being reported in the next two years together with substantial mine life extensions.
With the copper price way above cost plus $24m of franking credits we should see big returns to shareholders.
Booked profit will be boosted by the $60m of pre strip coming out of the balance sheet and tax benefits from the $200m of losses that are sitting there.
Rosier than the brown stuff.
HGO Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
