HMX - CNB nearology play?, page-126

Hammer have a great portfolio of ground near Cloncurry. I am losing patience with management and their approach to exploration. I don't believe you can have have a set of high priority targets and then drill one hole and downgrade the target and move on. It either is a high priority target that deserves a decent trial or it was very limited such that one hole kills it and should never have been a priority in the first place. I can't understand why the insistence on EM when Carnaby have shown IP is such a great tool, I can only think it is because Hammer staff have less experience with IP.

Hammer run the risk of moving on from great projects in the same way that Syndicated Metals moved on from Nil Desperandum after a few good intersections and a theory about where the extensions would be found (to be fair several other companies also moved on before them). Russell and Mark were both at Syndicated and I would really like to see a new exploration manager who brings a different approach. No disrespect to them, they are highly qualified and experienced. I just feel a new approach with a new exploration manager might crack things open for Hammer.

It is a bit sad when I start to think their best targets might be those adjoining Carnaby and its IOCG zone. Hammer should have been a lot further advanced than they are by now.

I hold in hope. DYOR, not investment advice.