We will be rewarded for our patienceInvesting in any start up business is never easy, even more so in the mining industry. I therefore want to congratulate Stephen Roman and all the management team on guiding the company to this point. The number of outstanding shares is a heavy deadweight on the share price but, being realistic, what else could management have done?
The company still has a long way to go and much more patience is going to required. The fist quarter results are going to be disappointing when they come out next week. But they represent just the start and I expect the quarterly figures will steadily improve over the next 12 months.
It is worth having another look at the Wolfgang video from 13 March 2019 in light of what has happened since:
https://www.youtube.com/watch?v=QcN2fhtvyYY Key quotes by Stephen Roman:
- It will take until Q4 for there to be enough stopes to feed the mill at 800t/day
- I think exploration really drives the story now that we are producing.
- We don’t plan on issuing equity. (This is one and only statement he made that has proved to be incorrect).
Key quotes by George Flach:
- Sugar/Middle/Wolf zones are a series of pearls in a string.
- There are many more deposits to be found.
- Sugar/Middle/Wolf zones are in about 100ha, out of an 80,000ha property.
- The company has huge potential to be 5m to 10m ounces.
- Working to find more deposits and open more mines.
- We expect to make another discovery in the foreseeable future.
It is my view that the comments in this video were intended to be factual rather than promotional hype.
Once the dust settles after the release of the disappointing Q1 results, I expect we will finally hear about the discovery of a new zone. I believe that management are being very conservative in obtaining plenty of assay results proving the new discovery before publicly announcing it.
It may take another 12 months to see HRT reach the sort of share prices we want, but after waiting nearly 10 years already, one more year is not a lot more IMHO.
Step back and look at the big picture – what HRT is achieving is incredibly difficult to do. We will be rewarded, eventually. GLTA.