Fair call @mwilson25.  Some more detail would be appreciated by...

Fair call @mwilson25.  Some more detail would be appreciated by all but they will not give us the PHES estimate as they are still negotiating. I think it has no chance of delivering cash prior to 30/6/19. They can however give us the rest of the info on mining costs for underground etc so that we can all quickly determine if doing a PHES deal below a certain amount now is worthwhile or whether we simply go underground and then revisit the PHES in a few years time. Lets face it the holes are not going anywhere !  So I am with you in thinking this should continue as a going concern and lets extract more money from the processing plant that cost them a bomb to move over from WA and rebuild.

@Benz 560 I can assure you that I am not a substantial shareholder nor do I know Mr Munro or the Ariadne Directors on a personal basis. Do I know of their credentials, their history and what I believe they can offer this company - YES.  Do I sleep peacefully because they have invested in HGO, YES.   Did I do my own research - YES.

That is not to say there are not risks in holding HGO shares, because there are many - but if they are happy to throw money at it, so am I.

Just a guess but all the talk of the Super Fund buying shares for the fully franked dividend may be well off the mark... suggest that people look at Munro's background to understand he may not be there just for a dividend. I would love to know his thoughts and I would even vote to have him on the Board, but I don't think either will happen.

as always, please DYOR.