If they would give us the approximate numbers Charlie, we can then debate the "some" or "most" of the cash to exploration issue. I am in the "some" camp at the moment.I personally would have no dramas if they paid out say the 8.8c ff dividends ($55m) they can and invest the rest in giving HGO a future beyond the Giant Pit. That is an efficient use of the shareholder money. If HGO finds that the next project is a goer, then they can always fund part from equity and debt like any other project. What would be useful is firstly knowing what ballpark money may be received from operations to go with the $31m from PHES. Remember they spent $65m - $70m digging to the bottom of the pit.
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