HMX was very lucky to get the sale of tenements around Mt Hope at what I consider a good price. And have a large position in CNB’s future successes, mining and exploration. The potential upside in this CNB position is substantial, with new discoveries (Magna Lynn and Devonport) and future mining at Mt Hope.
HMX now has freedom to conduct more drilling/exploration on their own tenements. Smart use of the cash to build reserves is critical. Maybe a sale of kalman to an active miner, with its copper and cobalt reserves.
All in all HMX was lucky to survive, I for one had a HMX buy out by CNB, and sale of unwanted assets. HMX lives to drill another day, however HMX needs to create value from the cash it has.
HMX Price at posting:
4.8¢ Sentiment: Buy Disclosure: Held
