Highlands Pacific (ASX: HIG) is a recent introduction to our Portfolio that has risen strongly from under $0.06 to a current price of $0.105 in just a matter of weeks - in part driven by Chinese group GRAM’s cash takeover bid for Highlands’ PNG joint venture partner and major shareholder, PanAust (ASX: PNA). We believe market interest in Highlands Pacific will remain strong for a number of reasons – not least of which is the PanAust connection and the high level of corporate interest surrounding it. PanAust has proven itself to be a very successful and active developer of resource project in the Southeast Asian region and its involvement with the Frieda River copper-gold project helps underwrite confidence in its eventual development. If GRAM is successful with its bid for PanAust, it will also inherit PanAust’s interest in the Frieda River project and a significant stake in Highlands itself.



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