Uncharted territory. Worst case at $0.395, page-3

I know mate,
No this is not normal. SP languishing like it is doomed to fail. Absolutely no interest even though fundamentals seems great for the current project...

I think I may found an answer. check out the SP graph


I thought I've factored this in when I bought in but as always the market is always right. In this case, there is nothing like looking back in the past to find the answer. HRR have burnt too many in the past... I'm talking of a record here dating back second half of 1996. Obviously you and I still has some faith in the current project and some newer investors are looking at the recent large buy in at bargain prices. But I doubt those that have been burnt before (looking at that graph ..that's basically all who bought in until the last few weeks) are willing to dip their toes on this again. The ones (mostly retail investors) holding currently are just waiting to sell at a price that covers some loss

Also, not sure if your familiar with the legendary Canadian investor Eric Sprott. Sprott Asset Management had a 10% stake on HRR. I say "had" as I can no longer find any current doco to support the Sprott still has a stake on this any-more. To cut a long story short it didn't end well for the Heron board and Sprott installed the current one.

https://thewest.com.au/news/wa/heron-settles-spat-with-sprott-ng-ya-382427

Honestly though, I don't mind what Sprott Asset Management did. The previous board looks like it was running the company like a chop shop had crossed breed with a pump and dump boiler room mob. Operating under the façade of being an exploration company. It would find good project talk that it would bring it to production.. drum up SP demand then at the last minute sell the assets to a different company (examples A1 Gold mine, Kalgoorlie Nickel Project, Jump up dam... the list goes on). Cashed up from the sale the board would then help themselves to pay rises with the proceeds. Was rinse repeat... well until Sprott Asset Management did a board spill which now brings us to the most recent debacle. Last year the current board went through a massive share dilution to fund Woodlawn. The current board brought in Orion mine finance at the detriment of the original holders...

Oh and how can I forget, it got involved in a litigation all the way up to supreme at one point...

With such a checkerd history above, do we really blame licensed investment companies (LICs have better research than us retail mobs) for not buying in with the current story?

Rest assured that:
1. The previous board has been replaced.
2. As far as I can tell Woodlawn is legit. Might ride past it this weekend and take some snaps.
3. The project is fundamentally sound
4. Even with prod coming on line. I'm starting to think that an uptick may not even happen. Worst scenario this will be in doldrums for a couple more years. Up until the market sees a tasty year on year NPAT.

Sorry for the long post... trying to cram in 20+ years of this company's past in this one post.