STTCOMP HMX FA LONG
http://www.hammermetals.com.au/GOLD/Copper-IOGC
S/P- 2.2c
Mktcap= $8mill
Cash- $1.8mill+
SOI-351mill
Opts 2020-190mill
• Management’s track record for gold exploration in Western Australia and the recent acquisition of the Bronzewing South Gold Project has attracted support from the original founders and early supporters of Gold Road Resources (ASX:GOR)
Hammer’s Chairman, Russell Davis said: “We are delighted with the outcome of the placement that generated demand from existing shareholders and a number of new institutional investors exceeding the amount sought. With the IP survey well underway at the Bronzewing South Gold Project and drilling planned for the second week of August on top of the promising results from low-cost exploration at the Mt Isa Project, we are anticipating an exciting period for the company for the remainder of 2019
The placement will raise a total of $1.756 million from the issuance of approximately 87.8 million new shares (“New Shares”
at an issue price of $0.020 per share (“Placement”
. The Placement was strongly supported by existing shareholders and introduced a number of new, high quality domestic and international investors to Hammer’s share register.
-Recent Presentation
https://yourir.info/resources/9a684...37091/HMX_Investor_Presentation_July_2019.pdf Now the shares have just come out of trading halt after the 2c placement and we can see some of those involved in the placement taking a quick profit during the day but when you look at the depth chart
I could see 50%-100% upside on positive lead drilling results from BZW South which is right next door to BZW Gold plant (EAR.asx) or from the IOGC projects in Mt Isa already with a decent resource base for cap with 2000sqm tenement in the largest base metal province in the world
View attachment 1671250I don't think this selling will be around forever HMX major negative was not having enough cash to continue their aggressive exploration/development across the 6x projects with around 1.8mill should cover operations for enough time to wake the market for major re-rate IMHO
One of the best team of Geo's 90yrs+ experience
Hard to believe it only commands a NAV-$6.2mill Disallowed potential
Disc-Holding HMX,HMXOD
(20min delay)