An excerpt from the first 2 paragraphs of the Chairman's letter in Hampton Hill's annual report ( released today )
Dear Shareholders,
During the year Hampton’s underlying asset value has been enhanced by ASX listed Peel Mining Limited’s (Peel) rising share price. Your Company holds just less than 10 million fully paid shares in Peel and currently this shareholding has a market value approaching $2.5 million. Hampton's management has recently carried out a site inspection of the Peel base metal and gold projects at Cobar, NSW and has concluded that there is a high likelihood of further significant share price improvement based on the rapid progress being made by Peel and the extraordinary mineral endowment unfolding there.
Hampton can also anticipate asset appreciation from its overriding royalty interest in the central leases of the Apollo Hill Gold Project near Leonora WA should Peel succeed with its recently announced plans to spin off this project into a well-funded IPO. Peel aims to list the new company, named Saturn Metals Limited, prior to December, raising between $4 million and $7 million, and to gather a dedicated exploration team to reinvigorate the exploration effort at Apollo Hill. These central leases have significant scope for the discovery of Tier One gold deposits and Hampton stands to receive a 5% gross overriding royalty on any gold production in excess of one million ounces.
Joshua Pitt
Chairman
October 2017
That from one of the most successful geo's this country has produced.
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