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

Hi all,
Agreed it's a pretty good qtrly. (maybe better than). I see Mr market wanting at least one of two things to happen (preferably both) before re rating HGO.
Firstly (and especially if no extension to mine life is confirmed before end of current mine plan) there needs to be a substantial cash surplus showing on the balance sheet - in other words debt retired and workers and creditors on normal (and fully repaid) terms. That would allow a decent return to shareholders in the (unlikely ) event that operations ceased . (the 4c could shed more light)
Secondly, there needs to be confirmation that the company can continue well past current mine life and prosper into the future - ie. exploration success in their stated target areas.
A huge bonus would be a significant cash windfall from a sale of the proposed PHES .
Any of these will see the SP move.
Two or three of them together would undoubtedly see it take off !
They have the lessons learned from past mistakes, they now have an extremely lean business model and they have a well performed and well sorted plant at Kanmantoo. If they could continue to feed it into the future at a rate that goes somewhere close to recent numbers, it would be a VERY bright outlook indeed ............ IF.

cheers, Foyt