just reading posts from stockhouse, below is some dd. the insider selling is from MOAG which is a partner with HBK. they are reinvesting proceeds into MOG pp to fund next round of drilling.
http://www.stockhouse.com/Blogs/ViewDetailedPost.aspx?p=123263 The 9 hole prgram at highland valley just 6 .5 kms from Teck's HV pit was done some time ago. We should be getting assays from HBK any time now from first holes. This is the HBK property info at HV. http://highbankres.com/highland.htm The geo that called the 9 holes and who did the splitting/logging etc is the x -top dog (retired) from Teck's Highland valley pit. This was his claim that he sold to Moag (private co. )that JV'd with HBK.
On top of that HBK has a 70 million ton ,43-101 compliant agg resource at swamp point near Prince Rupert and Kitimat. Both of those communities about to start massive projects. Rupert, new port/dock renovation and in Kitimat Rio Tinto (alcan plant) is getting a 2 billion dollar upgrade/expansion. Both these local projects need millions of tons of aggregates. This is HBK Swamp Point property info: http://highbankres.com/swamp_point.htm There is alot of discussion about a major JV on this property that could be finialized at any moment.
HBK web is: www.highbankresources.com
HBK partner at HV is Moag, their web is: www.moag.ca
Highbank is still trading significantly higher then the 5 cent level where it was recommended. The current price is 8 cents. There are 2 stories driving this stock right now. The first is their large aggregate deposit which is worth in excess of $1 per share and the second is their highly prospective Copper project which is in a fantastic location.
Earlier this year Highbank won a court case over the rights to the aggregate deposit which has been held up for several years due to the dispute. Prior to this dispute highbank traded between 20 and 40 cents with a high of about 70 cents. The combination of the dispute and the 2008 market crash destroyed this stock price. Having reached a resolution it would be expected that this stock will rally back to the 20 cent level which would mark a 4 bagger from my recommendation price. The latest update on the aggregate deposit is that HBK is proceeding with proper permitting to take the deposit into production. This will provide capitol to fund other exploration activities.
The second story is the copper play. We have been waiting on drill results since November 4th 2011 when the program was completed. The property is located between the 2 largest copper mines in BC and sits on the same structural trend. Needless to say, the grades should be nice from these drill results and the potential for an offer from one of the existing mines is almost a certainty if these results are good. Nothing is a guarantee but the location is right.
The stock spiked in 2007 to 70+ cents on the aggregate story alone. With the copper and aggregate stories working together I hope to see this stock trading above 50 cents in the next 1-2 years with will make it a 10 bagger from my recommended price of 5 cents.
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