As Geofijihas also mentioned once (or several times): Hammer is obviously spoilt forchoice. The whole Mt. Isa area is highly prospective. The dozens of historicalmining activities also testify this.
Here's howI see it: You can't just go there, put down a drilling rig and start drilling.That would be a bit too romantic. So, some time can pass between defining atarget and starting to drill. Perhaps further clarification is needed to define"where" exactly one wants to drill (e.g. IP, EM etc. analyses). Thencultural clearances may have to be made or environmental clarifications mayhave to be made, and finally the site where you want to drill has to beprepared somehow (roads to it or clearing the bush so that you can drill atall).
HMX hasdrilled very little in Revenue so far. 2 drilling holes if I understandcorrectly. The way I see it, HMX has too many interesting targets and at some point,you must prioritize - see my comment above - so you need a plan and asystematic approach. Also, “Revenue” seems to be expanding over a large area. So,you can't just start drilling like that.
The way Isee it, Trafalgar was perhaps a bit of a surprise and it's understandable that HMXprioritize here in the first half of 2022. Currently, the focus is on thenorthern areas.
But I amconvinced that the southern areas have not been forgotten. Especially now,after the successes of Carnaby, they will take a closer look at these areas.There are various interesting prospects. For example, St. Andrews, St. Mungo,Revenue extended, Overlander and Scalper (I think Scalper has already beenmentioned by Geofiji). So, I think there is a good chance that these areascould be drilled with some luck in the second half of the year.
Either way,we should not forget that the current drilling program already has thepotential to deliver bonanza grades.
I'm talkingabout Lakeview, Neptune (seems very interesting to me) and Kalman (it seems tome that Kalman is kind of flying under the radar of the market and excitingresults here will be a catalyst for the SP). This is all 100% HMX.
Then wehave the JV drilling program - so Trafalgar trend (The Springs, Lady Northcoteand Victory).
We'llprobably see the results in March/April - unless there's something like Carnabyto report - if I'm reading this right, there were some nice photos passedaround some time before the official drilling results were published, whichsuggested that there was something bigger in the pipeline (Geofiji "got"that, by the way).
Even if Irepeat myself here: I believe that after Carnaby's discoveries, the market is alsoslowly beginning to understand the potential of HMX. We can look forward topresentations from Dan in the next 4 weeks. That will draw some more attentionto HMX. On the other hand, Kalman's drilling results could add a few cents tothe current SP (or more if it is a “game changer”).
I believethat given the potential, an SP of 7.4 cents is not expensive. However,everyone must work that out for himself. If after Trafalgar the market waswilling to pay up to 15 cents, the question is why the SP has fallen back tobelow 5 cents. I think the market is now looking for a new equilibrium and thenwaiting for results.
Personally,I have a feeling that HMX 2022 will surprise us a few times. Whether we willsee a manifold jump of the SP already this year I don't know (I am not a crystalball). Maybe it will be 2023 - who knows. Either way, I think HMX is doomed tosuccess.
As I said,everyone must know what he is doing. I'm invested and pretty relaxed about whatwill happen in the next few months.
DYOR and good luck
(20min delay)