Harte Gold Corp. T.HRT

RE:This story is far from over

[Flyhi2004]

June 30th the company will get its $hit together when they default. All they have to do is pull the pin and the debt is gone and Harte becomes a new company with the unsecured creditors and debt gone and I think the hedging is gone to so the next owner has a huge win. Do they want to do this no..but if they don't get the money what choice will they have. The new owner won't pay up as they don't have to as New Gold just proved it with it's buy in at 15 cents/share.

All the gold underground is there but if you can't mine it efficiently and go broke attempting to can you continue to operate while not paying the bills and burning up 3.7 million per month until  AISC brought under control and 800 TPD achieved.


There is no excuse for the recent turn of events to be so horride other than execution failure. I guess there is no one to blame for the exection failure as it is no ones fault as just unfortunate series of screw ups. After two years they can not execute on simple equipment uptime and manning is down 20%. That in itself speaks volumes to the state of the company. The fleet they just bought is falling apart. That was a good plan. The NR back in March said the fleet was good and they would buy three more toys to make it even better.

They now require another 22 million minimum just to sustain themselves to the end of the year. Where will this money come from. If not from an investor,  being short 22 million ( capital required to just run the mine )  in 7 months operation the company will be in severe downfall I would think.


They admit can't even repair the equipment to mine with or get qualified people to fix it.

The hedge was the death nail. Poeple say they had no choice. I think that is bu$$ $hit. If it was that desperate over a year ago that they had to hedge just to stay solvent and it cost them 40 million to get this deal imagine what could have been with a properly financed operation. Yes it's easy to look back and say who knew gold we be this high. Well imagaine where the company would be if gold was below 1400/oz while AISC never dropped much below 2200/oz since the mill came on line. 

Eventually the mine will get its $hit together...that may be true alright but based on where they are now I can't see a turn around anytime soon and we were told we would be turning around in 2021. The words were 2021 will be a tranformational year for Harte Gold. I guess they are right casue they went from we are moving in the right direction to we are short 22 million and will drop guidance to 50000 a year and AISC will remain at 2200 or higher well into 2023 or later. 

So I guess continue to hold and wait and hope they don't restructure.

If they don't restructure by year end and things turn then yes it could be a go....but the whole big issue is the liquidity issue. Having to threaten the investors with that wild card is a loty to swallow. Invest in us as we will turn the corner but we are out of money. It's not we have enough money to turn things around and ride it out. 

WHERE DID THE 25 MILLION GO THEY GOT 2 MONTHS AGO TO BRING THEM TO 800 AND TRANSITION TO 1200 THAT THEY SAID THEN WAS ENOUGH TO DO THE JOB AND NOW THEY NEED ANOTHER 22 MILLION....MORE LIKE 30.

Have a good night everyone.....

I'm done!