$?Bill in a ? Life mine, page-27328

Hi 1OGf,

I hear you. However I think we are doing pretty well considering Mr Market.

“Mr Market is your business partner in the Stock Market. Mr Market is also a paranoid, schizophrenic, psychotic, drunk”
Warren BuffettIf

If we believe in “Efficient Market Theory” then every share would trade at risk adjusted valuation and we would be bored to tears with zero opportunity.
Most if not all of the blame however should rightly sit on the shoulders of our business partner; Mr Market. Right now Mr Market has been on a bender and is about as paranoid as a drunk driving home on NYE. The doom and gloom, world wide is palpable. Recession, War, Tariff War, World War III, Nuclear War, Trump, Interest Rates, Inflation, Stagflation, Global Warming and Global Debt to name a few market risks. OH and the share markets are at all time highs on the back of 5 tech stocks. RISK !!! Then we must layer on specific, sector, commodity and alpha or individual business risks. I think HCH and #Management are doing bloody well in the face of FEAR. Whats more important than Fear or Greed ? NEED - We need more Copper. This too shall pass and fear will be replaced by greed. Should we expect HCH to trade at shovel ready “de-risked” valuation share price equivalent of REX? Hot Chili is a speculative, non income producing development company in a paranoid, irrational, risk off, illiquid market. It would be highly unrealistic to expect HCH or and other pre-revenue company to be trading at the equivalent sale price as REX. The sale price of REX is the only real contemporaneous comparable we can hang our hat on. Yet REX is at DFS stage and fully permitted.HCH is not and therefore needs to be adjusted for risk. Adjusting for Risk is an average, because we all have different risk tolerance. Unless we define and calculate “risk adjusted SP” then we don’t know if we are trading above @ or below it. Logically we must be trading below it due to the broad market risk alone. Then we have specific HCH risk. To compare the share price performance of CYM (an extreme example to make the point) and HCH on a share price graph makes zero sense. About the only thing CYM and HCH have in common is the word Copper.