I'm down about 60% in total with the 100k I have. When the shares were below a cent, many used to play with this one. A pip here and there and make a couple grand or more and run. Now it's a lot harder to make the quick cash so quite a few are bailing. Of course this will in turn force some longer term holders to sell either because there sick of it dropping or margin calls,bills what have you. The market is dead atm along with Gold dropping makes it all the harder . Nothing has changed my opinion on the whole project but sentiment is hurting us here and everywhere else. The drop in share price has been on very low volume so i'm not panicking. Rod and Mark know they are just explorers and are discussed scenarios with all the right people and continue to do so i've been told. I'm not happy being down on this obviously. Many on HC have no idea what it takes to keep a explorer up and then develop into a profit maker. I want to stay in and see if they hand the batton to people who know how to mine. I'm down on paper and don't really want to sell any at a loss. The first couple of grabs at 727 could give us a nice kitty to get things moving so heres to digging some dirt up. Very shallow deposit and looks to have an easy 15,000 ounces.Could give us around $10m before tax if costs were $950 ish per ounce.
Lets hope the market takes a turn for the better in the new financial year.I still think these are cheap with the number of ounces already found and at the depth it is. Low strip ratio should keep mining costs reasonably low.
I'm bleeding here like the rest of you but still think money can be recovered and some.
Scorp
PRE Price at posting:
5.4¢ Sentiment: Buy Disclosure: Held