Ann: Preliminary Final Report - Appendix 4E, page-3

A GREAT report I think, much more detailed and clearly written.
I note the increased exploration budget for 2018, along with increased (I think) capital projects expenditure.
I also note the ore build up at the processing plant in December, and the forecast comments about increasing processing capacity.
Suggest Steve contacts PRN (or ML contacts MJ, Board to Board) to enquire about their thoughts on their new Steinert Multi Ore Sorter. As I understand it, this might be a great cheap (?$2m) capital investment for HGO to also significantly increase the concentrate of ore being processed and produced, using existing plant.

Be interesting to see if some of those people pushing the SP down now start to fade away. Hope they lose a motsa!! Noticed sellers disappeared today (Weds). I pity those who have recently sold. Once our figures are digested, I think and hope that we may get some interested buyers, for a tightly held share register, as we await our rewards in 2019, once all creditors, staff, debts etc are paid off this year. "Potential to create significant value for shareholders for the remaining life of mine."

Kanpapa and Mt Rhine both sound very exciting gold and copper projects. I await regular updates on the "vigorously explore"d Kanappa area results throughout 2018!

Again, grats to Steve et al and Board, and nice to see people are being paid off, and our debts are starting to fairly rapidly reduce.
Await some early drilling results with interest, and a better defined extension for our life of mine, and some good news about our more exciting areas and then a decision on whether we will be going underground at Nugents, and/or open pit at Kanappa and/or Mt Rhine.

PS. Re costs to transport from new areas 60-80km away, I asked PRN, and for them mining at a new area about 70km from their existing mine and processing plant would only (their estimate) increase their gold AISC by about $7-10, currently AISC about $1000 per oz.