Ann: HMX: Commencing Preliminary Discussions, page-35

Really bad proposition for holders on both sides. It’s a desperation move from HMX and CNB…..and that’s how the market will/should see it.

One company trying to avoid more CR’s and the other trying to create a workable/mineable resource. If CNB thought they had a good enough resource they wouldn’t bother with this transaction. They would mine, make their cash and then buy out a cash strapped HMX in a few years time.

If a merger occurs I expect in present day value shares will hit the 30’s and dilution will hurt many. Poor buggers that bought those cheap shares over $1 must be pretty grumpy at the cheer squad here who banded together to pump the company! Remember those saying $1.22 was too cheap at the last CR…..what a joke they are. No idea how to value a company….then again, basically no idea in general it seems.