I think that says it all.
HMX was not dying. However, this deal - as I have described several times this week - has effectively solved a fundamental problem of the last few years (and a problem that every explorer has) for at least 3 years - probably longer. We have enough cash to drill, develop and analyse.
Imagine CNB reaches a market capitalisation of 500m in 3 years. Then a CNB share would be worth around A$3. That would be proceeds of around A$27m for HMX on sale for the 9.1m shares stake.
So once again - the progress and the results must be right, but one of the main problems that have repeatedly depressed the HMX SP in recent years has been solved.
The "confidence" in the upside potential is not quite there yet. This can be seen in the volumes traded. But that will change - I am sure of that.
The HMX team's approach is so consistent and structured that I assume that sooner or later success will materialize and the SP will move from the single-digit range into the double-digit range. My view of things.
With this in mind, I wish you all a great weekend.
I think that says it all. HMX was not dying. However, this deal...
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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
| Last trade - 15.47pm 03/05/2024 (20 minute delay) ? |
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Last
4.4¢ |
Change
0.001 ( 2.33 %) |
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| Open | High | Low | Volume | ||
| 4.4¢ | 4.4¢ | 4.3¢ | 72916 | ||
| Last updated 15.47pm 03/05/2024 ? | |||||
| HMX (ASX) Chart |