GREY:HRIVF - Post by User
Post by
Wabatchon Sep 20, 2008 7:40pm
471 Views
Post# 15472700
5 times moose pasture
5 times moose pastureSpeaking of "moose pasture out there trading for more it appears", has anyone considered the ratio between the closing price Friday of HRG and that of that moose pasture we all remember so un-fondly and well called ROSCAN?. It's 5:1; i.e. we were being valued at exactly 5 times more than an empty shell with no holes in the ground, no drill results, no reserves, no equipment, no mines, no valuable shares in other companies, no known assets of any tangible kind except perhaps a couple of chairs and a desk.
And what should we make of all the insider buying of HRG in the last two weeks in the open market, particularly by Farquharson and Buchan? Farquharson bought 300,000 I think it was at $0.65 and Buchan 1,300,000 at $0.58 last Thursday. So that means Farquharson plunked down around $195,000 and Buchan $754,000. Add in the value of the other insider purchases and you have the group shelling out close to a million clams--for what? Because they don't believe these shares are going to make them money? Because they are trying to support the share price out of the good of their hearts? You'd have to be daft to think that people with this much mining saavy would do that. They know what we don't, and they have voted with their wallets.
The steep drop in SP in the last minutes of trade Friday was definitely IMO index-related as production5 has already explained. HRG may be out of cash and in a tight corner but it is hardly out of assets or, I think, negotiating room. My guess is that our new BOD members were hand-picked by Sprott and hatched ways to save the ship even before they boarded. The next few weeks should be very telling, but I for one will not give in to panic. I think the air is ripely pregnant with anticipation of big news, and tthat he hour of its delivery approaches.
Wabatch