The Comment re PHES only refers to Kavanah and I believe excludes the gold-rich Lodes at Nugent where underground access is already permitted. The results next month for Kanappa are eagerly awaited. One of the larger shareholders in HGO, Ray Munro, has already increased his stake from 7.2% to 8.5% (announced early September) at an average cost of 9c per share so I imagine the long term looks good.
Ann: Brisbane Resources Round Up Presentation 181016, page-5
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