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2.33%

4.4¢ hammer metals limited

Hi Dragon64,Haven't had a chance to read today announcement in...

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Rossi70

3,985 Posts.

1323

02/04/24

16:55

Post #: 73152760
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Originally posted by Dragone64: ↑

I don't know if the market has properly understood how this deal works.

We receive 4m in cash immediately. This is already more than 10% of HMX's market cap from last week. We will have more than 5m cash in the bank for upcoming drillings. No dilution!

Then we get 5m in CNB shares at a discount (55c - currently 61.5c - so basically we already have a book profit). This makes us the largest shareholder of CNB. To put this into context: That 5m could be worth 10m or even 20m in 12 months if we were to take into account CNB's SP highs.

In my view, this takes potential CR in HMX off the table for the next 2-3 years. What more do we want?

I'm not even talking about the rest. An excellent negotiation result. Thanks to Dan and the team for this very good result - which unfortunately is not (yet) being honored by the market. Now let's focus on the essentials again. Namely exploration. That could be where the next hammer is to be found. DYOR

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Hi Dragon64,

Haven't had a chance to read today announcement in full, but 1 thing came to mind.

If CNB, actually goes mining in 3-5 years time and they, eventually pay dividend's, then this will a smart move by HMX management.

IMHO.

Regards

Rossi70

HMX Price at posting: 4.2¢ Sentiment: Buy Disclosure: Held
8 Upvote

0 Great analysis

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(20min delay)
Last 4.4¢		Change 0.001(2.33%)		Mkt cap ! $39.00M

Open	High	Low	Value	Volume
4.3¢	4.4¢	4.3¢	$817	18.74K

Buyers (Bids)

No.	Vol.	Price($)
1	101870	4.3¢

Sellers (Offers)

Price($)	Vol.	No.
4.6¢	420000	3

View Market Depth

No.	Vol.	Price($)
1	101870	0.043
2	41928	0.042
1	100000	0.041
1	125000	0.040
3	470000	0.039

Price($)	Vol.	No.
0.046	420000	3
0.047	825968	2
0.049	290388	2
0.050	126666	2
0.051	74299	2

Last trade - 15.47pm 03/05/2024 (20 minute delay)


Last 4.4¢			Change 0.001 ( 2.33 %)
Open	High		Low	Volume
4.4¢	4.4¢		4.3¢	72916
Last updated 15.47pm 03/05/2024 ?

HMX (ASX) Chart