Ann: Hammer to sell 70% of Mt Hope Sub Blocks to Carnaby for $20m, page-24

A Maddog, Thanks for the complement. In the third para I was admitting, my forecast of a HMX buyout by CNB “failed to eventuate”, my bad and I am happy to own my forecasts.

Capital available to copper explorers is getting harder to get in a higher interest rate environment. Although I do note, the copper price in US$ has risen 16% in last 6 months, a strong positive.

I remain heavily invested in copper explorers in Mt Isa inlier. However note CNB raised capital 12 months ago at $1.22 and recently did the deal with HMX at 55 cents, less than half price in 12 months.

The ultimate prize is to prove up the resource and attract the attention of Glencore, S32 or Sumitomo

On a personal note, I have 3 to 1 invested in CNB to HMX. I am not totally on CNB.