Hi Trackers, thanks for the above.

HGD is an high risk goldie, and that reflects in their price right now.

Why high risk, well compared to some other coys (which have had better recent runs) say PNA OXR, HGD is miles away from producing and needs to increase its resources (to justify plant construction etc) and also firm up its resources into more measured reserves (to allow for a bank feasibility study etc). Also I don't think this coy/management has any track record yet (accept due to explorer status) as a producer.

The other thing to consider is their balance sheet, no significant cash reserves but a recently announced significant drilling programme to fund. Where is the money to come from? Maybe another discounted rights issue? The last such issue seemed to severly dent the price (10c back down to 5c)!

This one could be a punt, but I wouldn't risk the house on it yet. But where there is greater risk, theoretically comes a greater chance at reward?

Disc: Bought a few last week.