Expert Valuation for EGM, page-11

Ariadne may be the best chance for the company. I do not see Ariadne and GW et al doing nothing if more "bad luck" continues. They will change the team, take control, replace players, whatever is necessary to get their investment performing and obtain a good return, imo. Ariadne and Gary Weiss are serious players.

Hopefully some of the anticipated income will come to shareholders, but I'm not sure that miners have a very good record of dividend payments. But capital gain and good reinvestment also pays us. We already know that some of the extra cash is going to be spent on extra drilling, as it should. Hopefully, initially to only define and speed up and rapidly progress under pit mining and production, imo.

Of note, GW has worked for many years in the past with Michael Jefferies, probably most recently on Board of Clearview Wealth. MJ is currently Chairman of Pantoro (PNR) who seem to have very balanced conservative approach to mine (a gold mine) development and growth and expenditure. Using a 'PAYG' model, step by step. With a not dissimilar resource map, and a new area near the existing mine, and another (very early potential) 70Km or so away. However, not yet at the stage of paying dividends. PNR did say that the cost of transport of ore from about 70km away would make only a very small increase to the cost of production per oz gold, which I found interesting in the HGO context. So the new potential HGO area about 70Km away may be useful, one day.
So, fairly easy for HGO to follow PNR development road map, if required, and if not already discussed.