These are very solid results that clearly show that Mt. Hope and the surrounding region have a lot to offer.
I have already given my opinion on the price action more than once. It seems that both CNB and HMX SP have been "optimised". In other words, on days with low volume, orders were placed specifically to push prices down. This works particularly well in phases with little news (results). Then place an "I'll scare you" cap at the top and hope that weak hands lose their temper and sell.
From experience, this happens either because someone wants to make a few dollars or because someone has an interest in ensuring that market capitalization do not rise too high.
A co-operation between HMX and CNB would make sense. A convergence of the market capitalization would also make sense.
I can't imagine that with a higher copper price (e.g. above USD/lb 4 or higher), these low valuations can be maintained. In my view, the market capitalisation of HMX should be 50-100% higher (already now!). As already mentioned, explorers in the same region with much less meat on the bone have a similar market capitalization to HMX - which is completely illogical.
Looking at the chart, it would not be impossible to recapture the zone around 7 cents.
In the pipeline are the drillings with our small JV partner Sumitomo and the drillings in Q1 2024 in Yandal (lithium). Gold is also attracting.... don't know whether this is of any significance in connection with South Bronzewing - in any case, the value of "our" resources is increasing.
Have a good week and DYOR
HMX Price at posting:
5.6¢ Sentiment: Buy Disclosure: Held
