I think the problem with Kalman is that it's a molybdenum story...

I think the problem with Kalman is that it's a molybdenum story (60% of the revenue would come from that corner). The juicy - i.e. high-grade CU pieces - are quite deep underground - CU alone can probably not be mined profitably at current prices (with emphasis on "current prices").

Either way, Dan still wanted to provide an initial some kind of feasibility study. But as I understand it, he wants to add more resources first and then implement the "hub story" (by the way, this "idea" has been talked about since around 2014). See also his interview yesterday (or better listen to it).

I think the focus needs to be on the exploration side. There is no point in spending money on any studies or analyses. HMX has enough exploration potential. That's where the music plays for now. Further JVs (e.g. Bullrush) would be very welcome.

The traded volumes are - as so often - disappointingly low and leave room for random prices. Total nonsense - but unfortunately that's the way it is. We can only keep our fingers crossed that the next round of drilling results will be good for surprises and move the SP upwards again.

For someone who takes a long-term view, such fluctuations are now annoying - but they are part of the game. Presumably some people are "playing" with the SP again in order to get a few holders to sell (and then pick up shares cheaply at the bottom).

With this in mind, we should never lose sight of the overall picture.