I must admit that the directors purchases are a bit of a surprise in hindsight given today's announcement.
If we go for around $7M then that will look after exploration costs for at least the next 12 months in my opinion given that we already have about $3M in the bank.
We're either looking at a SPP to instos or a ~2:5 RI open to shareholders/instos with perhaps a 1:10 $1ex option thrown in for good measure to raise further funds (~$5M) down the track if the share price gets a move on.
Just my thoughts, your guess is as good as mine until we find out the news on Friday.
HDG Price at posting:
33.5¢ Sentiment: LT Buy Disclosure: Held
