Charts, page-65

Actually, the markets should correct strongly due to the current situation (Evergrande, possible tapering by the Fed and other negative news) - but they do not. The reason is simple. Cash is not an alternative and on the other hand, governments and central banks (especially in the US) cannot afford to let the markets fall. It is as simple as that.

HMX does not really correlate with the markets. Neither in general nor specifically. HMX only correlates with company-specific news. That is, primarily drilling results. Everything else is just background noise.

The SP is now where it was at the beginning of the year after the discovery of Trafalger and the subsequent confirmation of this discovery by follow-up drilling.At the moment, and for quite some time, there is quite a news vacuum - which is why the SP is crumbling.

Nevertheless, the directors have bought in and we have a new and extremely good joint venture partner in Sumitomo Metals.

So you should only sell if you believe in a second Lehmann effect and a crash of the global financial system. I don't think it will come to that.

Either way, weak drilling results could actually push the SP back towards 5 cents and then it becomes a matter of pure faith. On the other hand, surprisingly good drilling results would easily push the SP up to 10 or 15 cents. So, as so often in life, it's a matter of judgement. From 7 to 5 or from 5 to 10 or 15 - sell now to save 2 cents or hold (or buy) to possibly double in the short term?

As I said, I bought a few more pieces at 7 cents. DYOR