Maybe this is a bit premature, but we may be approaching a point where things start getting tricky, and it is worth SH thought and consideration.
LT SH who have been here for a while need to have their wits about them and make sure we don't succumb to any low ball offer that may come out of the blue in the event we get some success.
Look at what happened to Echo, they got taken out for a price based on VWAP - which is a pretty biased (low) measure as it does not really cast a true measure on a company's true potential. Thinly traded, low MC, stocks generally trade at well below their fair value and potential is rarely ever valued appropriately by the market.
Echo got taken out for 200M which represents multiples of where we are now, but remember - just like you and I - no one is going to stump up any mulah, if they don't expect to get 10 or 50 times that. It is very easy for a lot of money to be left on the table, and yes the bidder will wax lyrical about risks etc, but were already in for those risks any way.
You can bet your bottom dollar the wolves are lurking here, and they'll snap up any short sighted, opportunistic sheep. HMX's ground is super hot and the wolves are waiting for them to sufficiently de-risk the potential and then they'll pounce.
We're fortunate here in that mgt have a lot of skin in the game, but all it takes is for someone to get 20% of the register and it is then game on. Fingers crossed, HMX can make it without getting taken over. The guys running this are top notch and they know how to make it work all the way through to production - look at the GOR model. Our biggest challenge is not to give away the prize, when we get offered 10 times the current price...and to hold out for 50-100 times. The best thing we can do is back our board.
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