Ann: Entitlement Issue to Raise $800,000, page-8

Very underwhelming offer - based on current share price trend you will be able to buy actual shares in HMX at $0.005 in six months time. Why would anyone pay $0.005c for an option exercisable at $0.03 ?

This only makes sense if most of the funds are going to be spent on Jubilee (and that implies that Glencore want to drill at Jubilee), and that any exploration success means that the HMX share price must respond accordingly to at least $0.035 to $0.04 and stay there long enough to exercise the option and then decide if you are going to risk holding or attempt to sell when everyone else who is already in at an average price or $0.03 to $0.04 is trying to get out? Given the almost zero share price movement/reward for exploration juniors whom have drilling success in the market at the moment this seems like a pretty high risk for not much reward to me.