Don’t necessarily disagree with any of the above. Just a word of caution. Clearly the copper market has had some traction in recent months with spot trading above $4 and M&A activity starting to kick in. HCH, on paper, would appear to be a prime target. We supposedly have had many constructive talks with various parties, interested parties in the data room, extensive marketing campaign and endless meetings. Yet, there was a need to rush a CR which was relatively big in size and at a significant price discount. Management and board seemed to think that no better price than $1 could be achieved. The lead placement agent Veritas could not garner any leading bid above $1. Glencore did not take part to the extent to protect its 9.9% stake and merely defended its 7.5% threshold holding. And lastly, price & volume are the final arbiter in the market. Nobody wants a bite.
Either we’re in Lassonde Curve no man’s land and value will materialize in the PFS-DFS process or sth is wrong. I’m still holding and rooting for the former. But the almost systematic disinterest in HCH by the market (and industry?) gives me pause.
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Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-73
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Last
85.0¢ |
Change
0.040(4.94%) |
Mkt cap ! $128.7M |
Open | High | Low | Value | Volume |
80.0¢ | 85.0¢ | 80.0¢ | $74.52K | 88.87K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2000 | 82.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
85.0¢ | 44872 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2000 | 0.820 |
2 | 2000 | 0.800 |
2 | 13658 | 0.790 |
4 | 36869 | 0.785 |
5 | 26150 | 0.780 |
Price($) | Vol. | No. |
---|---|---|
0.850 | 44872 | 5 |
0.860 | 4357 | 2 |
0.870 | 3962 | 1 |
0.880 | 44458 | 2 |
0.890 | 133261 | 1 |
Last trade - 16.10pm 11/10/2024 (20 minute delay) ? |
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