HMX

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Ann: HMX Executes JV Agreement with SMMO at Bullrush IOCG Project, page-15

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patricus

228 Posts.

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02/07/24

20:33

Post #: 74575742
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Originally posted by eastwest101: ↑

It looks like a decent deal to bring Sumitomo in, and no problems with the JV model of exploring, the only issue I have is that the current plan has some diamond drilling at Hardway in June/July, and then no drilling (except for some aircore in WA that no-one cares about) until the vague mention of Mt Isa drilling in August/September and its very vague but it would surely be the drill testing of those geophysical targets in the Sumitomo JV area. While there is a lot of other work in in the rest of this year in the way of geophysics, soils, mapping and rockchip etc that is all good - its also all generative (plus the JORC resource at North Orelia in WA) , and is generating more Mt Isa area drill targets that may not be drill tested until 2025. Too much time collecting data, and not enough metres being drilled in the plan so far. I think this will test the patience of some holders here as this looks like a company watching its pennies in the middle of a copper exploration boom in the Mt Isa area so they will look noticeably out of step with their Mt Isa region neighbors and competitors for capital.

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"Too much time collecting data, and not enough metres being drilled in the plan so far."
I think this is the heart of the matter, unless and until they reform their drill strategy and start producing results, the sp is going nowhere - as evinced by the current sp despite all recent 'announcements'. They have the cash now, time to deliver.

HMX Price at posting: 3.4¢ Sentiment: Sell Disclosure: Held
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Last 3.5¢		Change -0.004(10.3%)		Mkt cap ! $31.02M

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Ann: HMX Executes JV Agreement with SMMO at Bullrush IOCG Project, page-15

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Ann: HMX Executes JV Agreement with SMMO at Bullrush IOCG Project, page-15

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