Ann: Change in substantial holding from ARA, page-2

So, ARA is now at 26%....

I can't imagine them stopping there. Why would you tie up that amount of capital and yet not be able to control the board and key decision making? As at 30 June 2017 ARA was sitting on A$49.3m of cash, enough for a takeover offer of the remaining 74% of HGO.

Or....do they wait for HGO to start posting some big monthly revenue and cash flow numbers on the board (perhaps starting with what should be good December production numbers), and then hang out a "for sale" shingle....perhaps to tempt another entity (Chinese?) to make a move to sell into.....

Must be some fascinating conversations around the Boardroom table at ARA.

Cheers

rosco