Harte Gold Corp. T.HRT

RE:Share Price next Friday

[BigIsBest]

Thank you Research67 for your awesome post. Well done. I appreciate you posting the link to the Hayward report.  I especially like the way you have brought together the information from the corporate presentation and the Hayward report.

Hayward uses an Enterprise Value (EV) of US$225,00 based on a share price of C$0.43. They then calculate the EV per ounce to be US$315 using only the 714,000 Indicated ounces. Therefore, there is plenty of scope for a large increase in their EV as there are 761,000 Inferred ounces most of which I hope will move into the Indicated category. We can update the Hayward model by multiplying the new Indicated ounces by US$315. For example, if there were to be 600,000 new Indicated ounces then that would increase the EV by C$251m, more than doubling the EV currently used by Hayward.

The Sugar Zone Property NAV used by Hayward is C$362m. Using the EV figures above, we could see that NAV figure increase by C$200m to C$300m. Hopefully the NAV of C$500m that you used will prove to be more than a little conservative. (I’m not saying you should have used a different figure – being conservative is the wise and prudent way to approach these calculations).

IMHO, all the market is waiting for is hard facts, which the NI 43-101 and audited financial statements to 31 December 2018 will provide. Assuming the facts are along the lines of what we are expecting then the share price should finally move. Conservatively, a share price of C$0.70 to C$0.80 should be achievable by the end of this quarter.

Beyond the facts and figures is the dream of a new discovery providing many more ounces. The hope of a big surprise coming sooner rather than later keeps me fully invested in Harte. GLTA.