HMX 0.00% 3.7¢ hammer metals limited

Ann: Additional Disclosures for Visual Observations at Ajax East, page-24

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    It’s very hard to come up with a value for future prospects of an explorer, unknown future discoveries. It is not quite so hard to come up with a value for a JORC resource, tangible metal holdings. Easiest to come up with a value for a producer based on multiple of profitability.
 
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