Ann: Activity Report Quarter Ended 30 Sept 2018 & Guidance Update, page-5

Finally somebody who thinks like me that the HGO Quarterly Reports are more like an exercise in obfuscating the real position rather than actually updating the holders.

In my estimation, any hope of a descent divy must now be placed on the shoulders of a good sale rice for the PHES as my guess is that normalising the creditors is going to take at least until the end of this FY.

I am glad that management think they are on track to make guidance as this keeps the faith with me somewhat. And the new improved gold recovery guidance is a win - so its not all bad.

My thoughts are that there are two potential pieces of good news on the horizon, Knappa drilling and PHES. So I am hanging in for now.