Ann: Hardey Drilling Targets Lloyd's Copper Resource at Burraga, page-188

So my take on everything folks is that whilst not ideal with the multiple trading halt requests etc... . It appears to me that there is something more important to the structure and / or composition of the deal and hence requiring more time to complete to the satisfaction of the ASX. You can speculate and read into things all the negatives you like and the fact remains that it is always easier to find negative views or people for that matter than searching for the more positive angles and personalities. I personally remain quite optimistic as to the possible outcomes being worked through. One of my reasons for my positive view was due to these statements released in our last Qtrly Report::- "

On 20 April 2018, Dr James Ellingford resigned as a Non-executive Director of the Company and Mr Robert McCauley was appointed in his place. Mr McCauley has held senior Board and Management positions in ASX Listed Companies including Commissioners Gold Ltd now Gold Mountain Ltd (ASX: GMN) and has extensive experience in capital raisings, IPO’s, finance, media, corporate dvice and acquisitions. Robert was also nominated in 2011 as an industry representative on the ASX equity market review panel reporting to ASIC. "

and this :-

" Mr McCauley brings to the Board his broad knowledge of corporate and technical skills including assisting the Company to identify and analyse future M&A opportunities. "


Now much has been said on these threads that because of the link with management that in some way the announcements must therefore also be linked. While we certainly should not rule out the possibility of a sale of one of our tenements to VIC or indeed someone else , these announcements don't appear to be linked on the surface or from the wording at the present moment.

It has also be suggested that due to the commonalities of the poor management and overall appearance of the state of affairs of both companies - that this is also the reason that both are currently in suspension and subsequent extensions at the same time and therefore they must also be in some way related. IMO, this couldn't be further from actual reality. The only thing that may be intrinsically linked is the fact that in this present market where expected performance has lifted a notch in having to chase and create opportunities rather than effortlessly sitting back watching your SP ' Fly ' This may have been the case many month ago but is certainly not the case now. Has anyone given consideration that these guy's may of in fact left themselves a little thin on the ground with the workloads necessary in establishing their template for multiple projects and eventual foreseeable success.

The bottom line is these two companies are really nothing at all alike apart from both being ' spec ' resource and exploration plays. For example and on closer inspection , VIC had only $794 cash in their kitty at end of June Qtr and were spending $299 in Corporate Expenses in that same period. All this without a cracker of expenditure on exploration on their relatively new and allegedly ' Hot Property ' tenements. One only has to compare the Qtrly Activities report comprising only 1.5 pages for VIC to see they are nothing at all like HDY's more comprehensive and detailed report . Clearly our projects at this point are much more advanced - maybe to the point of even a potential sale. At the same time HDY's $1,936,000 in cash on hand at the end of June 2018 would also put us on a higher and more favorable starting position given our recent ' script ' acquisition(s) when compared to theirs. With $469 in staff , admin & corporate expenses and an additional $292,000 in exploration & evaluation expenses. Assuming expenditures are re-current, that would leave us with 2 1/2 Quarters should everything remain status quo. However folks, we know it hasn't remained the same and so the bigger question remains how we spend the remaining cash.

And therein lies the trick in wining this ' Ducks and Drakes game we, they , all of us seem to be playing. Are they good enough is the question to get the most leverage out of this new focus - moreover , will there be a strategic stake or indeed will there be a full takeover play for this new HDY Vehicle which seems to be unfolding. Should probably think more about these positives folks that the obvious negatives - as it will potentially do your head in before we even Open next Friday. Have a great weekend.....