Ann: Successful Kalman Ore Sorting Trial, page-29

I'm attaching this here again as a "reminder". If it turns out that the shallow drillings in Kalman show halfway reasonable grades that might be open pittable, then that would be an initial catalyst for further development and give the story a new, different spin.

The results from Kalman West are almost more exciting from my point of view. A high grade result would be fantastic of course but also even half decent mineralization would "expand" the overall story. The youtube video is brutally boring but the visualizations are interesting.

Of course there is still a lot to do here and there are also many ifs and buts. In a perfect world, the next results would put Kalman into "realistic development mode". That would be sort of the next step to possibly land a strong JV partner. I recommend reading Dan's CV again here. Do not underestimate this man. I don't think I need to explain to anyone what it would mean if a big boy were to come in here. I think then a market cap of 150-250m would be justified.

Kalman is not just a "high grade" drilling result that makes the market euphoric - there is 10 years of work in it and an overarching plan. I'm not even talking about all the rest here.

There are the stories at Mt. Hope and - as Dan says so well - also only 600m away from CNB Land - where some nice results electrified the market. REE are exciting but in my view a difficult proposition unless you can find them in the context of high grade copper and extract them as a byproduct (if at all).

Yandal - lithium is making investors go crazy. Imagine a discovery here (other explorers are already multiplying their SP just because of 1 result and they don't have 2600km2 prospective tenements in the background).

Bronzewing south we forgot all about. Well - probably there is nothing to get there. But maybe not - who is our neighbor there? NST?

We closed at 8 cents. The 8 as a lucky number: "ba" in Chinese sounds so similar to "fa", and that means as much as "to become rich" or "to come to prosperity". In pseudo-capitalist China, where everyone strives for quick money, the 8 is coveted everywhere. I like the 8. I would even prefer an 8 plus a 0. Which brings me back to a dream I once had about 6 months ago. I saw a number.

Okay - way too much writing again. So back to reality. It's all wonderful - but as long as the essentials don't happen, even the most beautiful stories are of no use.

After all - results are coming. Dan presenting at the RIU conference and HMX already has attracted some attention.

As I said, in a perfect world where one Lego brick could fit on top of another - the next few months could be more than exciting for HMX shareholders. I wish us all the best of luck and I certainly don't want to be perceived as "price pushing" here. I am still a realistic optimist and I know that in the end only facts count. So everyone must know for himself what he does and therefore a careful DYOR is important.