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downsideup

08/13/09 6:36 PM

#11197 RE: 7 WAVES #11195

Too early to say. The deal done transfers Ghana, not other projects, so far. The news there is seems it offers only a partial picture of what they are likely to do. It doesn't offer any answers for how HMIT will proceed to finance (or dispose of) any other efforts on other projects, once it hands Ghana over to Mateo.

I don't see it as anything that enhances my interest. Looks like they are mostly posturing failure and a resulting need for additional financing as a tool to enable their piracy of the assets.

It also obviously raises new risks of divided interest and attention.

Maybe actual financing for HMIT will come next, after they put this payoff for Klok using transfers of HMIT assets to bed ? Or, maybe they will spin off other projects in a similar manner, and HMIT holders will end up getting dividends of the 10% interests of what they used to own, in the form of stock in more than one company that owns former HMIT assets ?

I don't think I'm able to compute a rational price target here...

I am able to compute a rational position on my own level of interest, given what I see happening.