HMX - Hammer Metals

[finicky]

Hoping this will balance the ledger against my 2022 crash and burn spec stocks.
Maybe it's been filling the gap? Plenty of activity to be expected in HMX's Mt Hope region tenements which surround Carnaby's (CBN) Mt Hope mine tenement.

Held

 

[finicky]

I see these pieces as little better than advertisements - but anyway, HMX gets included among some other mini specs on the Copper theme and the OZL takeover.

HAMMER METALS (HMX): Trading at 6.3c for a market cap of $50m. It is active in one of the “hot’’ copper exploration regions – the Mt Isa Inlier of northwest Queensland.

It recently confirmed a high-grade discovery at its South Hope prospect (25m grading 2.41% copper and 0.47g/t gold from 74m), and a follow-up program is planned for early next year. South Hope lies about 650m south of Carnaby’s (ASX:CNB) Mount Hope project which on the strength of its own high-grade copper hits, has driven the market cap of Carnaby to $114 million.

Barry FitzGerald: Four cheap copper plays sitting on the runway for a 2025 take-off - Stockhead

There are two sizable copper plays on the ASX that stand to benefit from the eventual departure of OZ... but that's no fun now, is it?

stockhead.com.au

Held

Weekly

 

[Sean K]

Hammer not giving up on that ML adjustment. I can see why, it might have some copper under it in that blue box.

What's the bet these two merge at some stage?

 

[noirua]

Hammer Metals (ASX:HMX) flags “exceptional” drill results ahead of planned Kalman resource update, QLD​

Hammer Metals (ASX:HMX) flags "exceptional" drill results ahead of planned Kalman resource update, QLD

Hammer Metals (ASX:HMX) has extended the mineralisation at its Kalman deposit in Queensland ahead of a planned resource update.

themarketherald.com.au

The “exceptional” intercepts included a top result of 24 metres at 5.1 per cent copper equivalent from 194 metres.

Additionally, the company recorded 89 metres at 1.74 per cent copper equivalent and nine metres at close to six per cent copper equivalent.

Live charts: https://uk.advfn.com/p.php?pid=staticchart&s=ASX^HMX&p=0&t=1

https://uk.advfn.com/p.php?pid=staticchart&s=ASX%5EHMX&p=5&t=1

https://uk.advfn.com/p.php?pid=staticchart&s=ASX%5EHMX&p=9&t=1

 

[Sean K]

I'm not sure why Hammer aren't doing more drilling north and south of CNBs recent discoveries. Surely it's highly prospective for additional discoveries along strike/trend. Strange that CNB managed to get that tenure smack in the middle of Hammer's land. Looks like they've only put four holes into South Hope, one pending. That result might be interesting.

 

[finicky]

Hammer Metals management still whingeing about the Mt Hope boundary adjustment and talking a higher appeal. Doesn't bode well for any future merger prospects I would think. All over one (1) hectare of territory. I might get on the blower and tear strips off the M.D

Held

 

[finicky]

Gone off exploration speccies, I suspect a lucky win on Chalice (CHN) 3 years back triggered a frenzy of over confident speculation. But HMX price surge could be worth a note. Rumour has it that HMX specfically has been bumped by a Fat Tails promotion. Looks a risk iof running out of steam soon?

Held

Daily

 

[Sean K]

Gone off exploration speccies, I suspect a lucky win on Chalice (CHN) 3 years back triggered a frenzy of over confident speculation. But HMX price surge could be worth a note. Rumour has it that HMX specfically has been bumped by a Fat Tails promotion. Looks a risk iof running out of steam soon?

Held

Daily
View attachment 155229

Nearology with CNB the only thing as far as I can tell.

 

[finicky]

Interesting management if you check them out. I think that's why T Locantro was a fan - don't know about now. The copper focus could be a speculative magnet in time to come and its in the Mt Isa region. Think they were there b4 CNB but passed on the Mt Hope Mining tenement, d'oh.. Not that I'd be buying now, I wouldn't, maybe top up if it falls back to 5c all else looking well.

 

[Telamelo]

Interesting management if you check them out. I think that's why T Locantro was a fan - don't know about now. The copper focus could be a speculative magnet in time to come and its in the Mt Isa region. Think they were there b4 CNB but passed on the Mt Hope Mining tenement, d'oh.. Not that I'd be buying now, I wouldn't, maybe top up if it falls back to 5c all else looking well.

Yeah noticed this one spike yesterday & again this morning after fat tail coverage from last night - mind you they actually suggested to "hold off from buying this just yet bearing in mind only just over $2M cash left in the kitty" so go figure lol

Likewise @finicky , think if sp drops back to 6c-7c level then perhaps worth a punt for sure (high risk/high reward potential).

 

[kenny]

My pick for April even though it's jumped at month's end. Purely on the prospect of news coming from recently completed drilling at Hardway.

The Kalman update should be due in April too as well as more drilling at Mt Hope.

I reckon it'll be a Speculator's plaything over the next month or so.

 

[Sean K]

Got a 'please explain' in regard to the price and volume but 'we know nothing' other than some drill results were sent to the lab. Still very unusual action. Must be something in the wind.

 

[Dona Ferentes]

My pick for April even though it's jumped at month's end. Purely on the prospect of news coming from recently completed drilling at Hardway..

Still in, even though it's late May?

I reckon it'll be a Speculator's plaything over the next month or so.

Up 20 per cent to 8.1c today

 

[finicky]

Yeah well I never stay in the green long with this one: trading halt @ 0.067 for a cap raise that is rumoured by a credible source elsewhere to be @ 0.06. My average 0.059
I guess the signs were obvious to someome being more attentive: two resource/drilling result announcements in May + RRS conference preso + an infomercial article by journalisr B. Fitzgerald and as @Telamelo mentioned above, a low kitty.

Held

 

[Telamelo]

Yeah well I never stay in the green long with this one: trading halt @ 0.067 for a cap raise that is rumoured by a credible source elsewhere to be @ 0.06. My average 0.059
I guess the signs were obvious to someome being more attentive: two resource/drilling result announcements in May + RRS conference preso + an infomercial article by journalisr B. Fitzgerald and as @Telamelo mentioned above, a low kitty.

Held

At least @finicky you got in below 0.06c (0.059c average is a pretty good entry) so you'll do well over time am sure (haven't taken a position yet myself but on my watchlist with alerts).. keen on a few other's instead at the moment (namely USL, SVG, ORA & KAU)

Good luck!

 

[Sean K]

On LiveWire.

The Mount Isa region-focussed Hammer Metals (HMX) is an example. It is now trading at 7c for a $57 million market after getting tickled a little higher on a high-grade copper hit with rare earth elements at its Hardway prospect (57m at 1% copper).

It was a nice hit and will be followed up. It goes to one of the key value drivers for the company within its Mount Isa assets – exploration success.

There are another two value drivers – its existing resource base and its exposure to regional consolidation moves and possible merger and acquisition activity.

Hammer recently upgraded its resource base to 530,000t of copper equivalent of which the Kalman deposit is the mainstay. In an industry desperately seeking additional copper units ahead of the metal’s mid-decade take-off, Kalman has street cred.

Near enough to 300,000t of copper grading about 1% is in an open-cut position, with exploration upside remaining, makes Kalman something special within the junior space.

Hammer boss Dan Thomas makes the point that Sandfire, where he previously spent 5 years on the payroll, paid $166m to acquire 340,000t of copper in Botswana – admittedly in the reserve category – when it acquired the Motheo project in 2019 (it started production this week).

He told the recent Resources Rising Stars conference on the Gold Coast that Kalman, which has been on the books in a smaller form since 2010, hasn’t been generating excitement for investors with an exploration bent.

“But in terms of value creation, it should,” he said.

Hammer is also exposed to the region’s exploration upside across a number of prospects, including its South Hope prospect across the fence line from Carnaby’s (ASX:CNB) Mount Hope project.

High-grade hits by Carnaby (35m at 4.2% copper with gold recently) have propelled Carnaby’s market cap to $192m. Meanwhile, Hammer has kicked off a drilling program at its prospects Mount Hope region prospects which sit on tenements surrounding Carnaby’s Mount Hope tenement.

“It doesn’t take a rocket scientist to see the potential there for the consolidation of the assets,” Thomas suggested.

On the broader regional consolidation and M & A activity, it is noteworthy that seven notable deals have been cut in the region in the past 18 months. It goes to the scramble for more copper units ahead of the metal’s mid-decade take-off.

 

[finicky]

So HMX announced today it got its placement filled @ 0.06 and the price dipped intraday to 0.058. I'm expecting lower.
Say they've got cash of $6.3m but in a footnote say they've calculated that figure using cash held back at March 31 (yeh, well its 2 months on from that now guys) plus placement proceeds before costs - so I would guess $5.5m cash to be closer? Directors still to put in $220k.
I think of HMX as being close enough to a billion shares now fully diluted for options and perf shares, meaning if consolidated down to 100m shares I'm looking at a 60cps priced company. That actually seems ok for a speculative minded punter given progress they've made, management, Cu regional location and next door proximity to CNB Copper disoveries.
So if it drops significantly lower, maybe in the 4c area?, I might well add 40,000 shares if the chart is agreeable.

Held

 

[Sean K]

So HMX announced today it got its placement filled @ 0.06 and the price dipped intraday to 0.058. I'm expecting lower.
Say they've got cash of $6.3m but in a footnote say they've calculated that figure using cash held back at March 31 (yeh, well its 2 months on from that now guys) plus placement proceeds before costs - so I would guess $5.5m cash to be closer? Directors still to put in $220k.
I think of HMX as being close enough to a billion shares now fully diluted for options and perf shares, meaning if consolidated down to 100m shares I'm looking at a 60cps priced company. That actually seems ok for a speculative minded punter given progress they've made, management, Cu regional location and next door proximity to CNB Copper disoveries.
So if it drops significantly lower, maybe in the 4c area?, I might well add 40,000 shares if the chart is agreeable.

Held

Seems like a no-brainer they merge with CNB. While Kalman is OK, it's the strike along from CNB's loads that have more upside I think. Surely HMX's land north and south will be mineralised in a similar fashion.

 

[Sean K]

Pause in trading. Looks like a leaky ship.

 

[finicky]

HMX jumped 37% before a trading halt pending a drilling result.
3m shares got through before they imposed the halt.

Held