HMX V CNB

Thought I would start a little discussion with a new thread talking on point tonight re a basic HMX v CNB  comparison between the two copper exploration companies.   

The purpose is to create some constructive discussions, whilst you can agree, disagree or just sit on the fence, please be respectful of peoples opinions and points of view even if you disagree!

Views on values?, market cap?, shares on issue?, JORC?
CuEQ? All points are welcome no matter what side you sit on.


Share Price COB 19/12/2023

HMX  .05c
CNB  .805c

Market Cap 19/12/2023

HMX $44.32m
CNB $131.00m

Shares on issue

HMX 886.4m
CNB  162.8m

JORC Resource (growing)

HMX 43mt?
CNB.  21.8mt?

**Believe both around 1.3% to 1.4% Cu EQ? DYOR.

Based on the figures I found from Annual reports 2023 & ASX announcements

• HMX has 5.44 times the Shares on issue than CNB.
• HMX is market capitalised 2.96 times less than CNB.
• HMX has nearly 2x times (1.97)  JORC resources (CuEQ at very similar grades) than CNB.

**Note both companies expect their JORC resources to continue to grow in the near future.

IMO whilst HMX has 5X more shares on issue than CNB  its market cap is almost 3x less, why??? Given HMX has almost 2X more than CNB’s current holds as an actual JORC?

IMO HMX valuation at .05c does seem cheap relative to CNB??

So based on pure numbers that I can find,  IMO there seems to be large discrepancy in market cap of HMX when looked at to CNB in the way both companies are currently valued by the market right now…WHY?….JMT?

So is HMX undervalued? Or is CNB overvalued?

Or are both companies HMX & CNB undervalued????

Open to all for further discussion and opinions.

Good luck to all holders and believers in the HMX story, and also all the best to those CNB holders.

Cheers Aussie