EXPM:HRTFF - Post by User
Comment by
FloorsGoldon Nov 02, 2019 2:00pm
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Post# 30301175
RE:Price action versus spike in gold...
RE:Price action versus spike in gold...tony1969 wrote:
is what kept me away since selling right after the Paribas loan this summer. Actually for a small profit. Gold spiked and HRT continued down. This is borderline fraud. They have been withholding information for months now. Been trading for 33 of my 50 years on this planet and have never seen anything like this before. A Friday night release? Really? That just makes the borderline fraud even more obvious. This is shameful. It has gotten to the point where you can even question what they claim to have in gold. Throw on the close to or over $100m now in debt (real reason I have stayed away) and it looks exponentially worse. I am sincerely sorry for longs such as ballot as this should not happen. Yes there is a difference between morality and legality. Guess which one HRT management does not care about. Terrible management as I shake my head...
No this is not borderline fraud, I do not agree at all.
They had problems with startup that are constantly being overcome, however you will get your wish about management, new management will be taking this over soon.
In regards to the price dropping, and gold going up, the mine hasn't stopped. The increase in gold price only helps us. the price dropping is related into the setbacks that are being overcome, I keep mentioning this but because it is very applicable. As more stopes are available to mine, and the infrastructure keeps getting improved (which it is) we will be able to get 800 TPD by Q4 2019 or Q1 2019 compared to the current 600TPD up to the mill. As these stopes are coming online and we have access to higher grade ore, at the same time as more ore going to surface occurs, grade will also be increasing, driving all in sustaining cash costs down.
Why would you even have considered selling after Paribas took over the loan? We got a lower interest rate, we needed the money to build the mill in the first place and to even get to where we are today.
The fact Paribas has the loan, is a well done thing by old management in my opinion supported by a tier 1 bank.
I totally understand your fustration, but this will become a profitable mine.