HMX -clock the hammer it's time for action- GOLD - IOGC base metals

http://www.hammermetals.com.au/
GOLD/Copper-IOGC
S/P- 2.2c
Mktcap= $8mill
Cash- $1.8mill+
SOI-351mill
Opts ex 3c 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...._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
190730075604.png
I 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 I've come across in the micro-cap 90yrs+ experience

Hard to believe it only commands a NAV-$6.2mill 10bagger potential when you add all the project potential + mgmt + cash

Disc-Holding HMX,HMXOD

And HMX hit 3.5c yesterday ... and I think we have much more to run depending on drill results , placement profit takers must surely have run dry
did sell around a third of my HMX holding purely as I have a large OD's holding so decided to diverse some funds into portfolio underperformers

https://smallcaps.com.au/hammer-meta...-gold-project/

Ended up selling 15% of my OD's Holdings for 118% return for 4 months holding ... hold the rest till early 2020 or 9c-10c target is reached

Thanks for putting me onto this company JB,
I bought into EKM/GOR beofre their name change way back around 2010-12 when they were still in the mid 10s and rode it up all the way up to mid 30s.

I got my house deposit paid for because of this company.

I'm currently into HMX @ 2.9c and am enjoying the current SP ride up, fun to see all the speculation around the surrounding companies and nearology impacting HMX's SP.

Quote:

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Originally Posted by Stumpynuts

Thanks for putting me onto this company JB,
I bought into EKM/GOR beofre their name change way back around 2010-12 when they were still in the mid 10s and rode it up all the way up to mid 30s.

I got my house deposit paid for because of this company.

I'm currently into HMX @ 2.9c and am enjoying the current SP ride up, fun to see all the speculation around the surrounding companies and nearology impacting HMX's SP.

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Yeah been a great run up >> sold the last of my 2.3c HMX today ended up purchasing a few more HMXOD taking my holding to 2.85mill 13+ months to expiry happy to hold till Xmas see what the rest of 2019 brings

Still sitting on 2mill of the HMXOD ex. SEPT 30th 3c ex price

Currently Buying HMX 2.5c hopefully get the rest of my order filled today ..

Last couple of anns -comments from MD

Hammer’s Managing Director, Daniel Thomas said:
“The first program of the JOGMEC Joint Venture has positioned Hammer for success in 2020 with the definition of
a number highly prospective Copper/Gold drill targets. Diamond drilling at Shadow will test the depth extent of
surface Cu-Au mineralisation that has already been observed. The upcoming program will also see Hammer
embark on significant field work to elevate earlier stage targets that have been identified during this program. These
upcoming work programs should ensure a steady stream of results from the Mount Isa projects throughout the
remainder of 2020.
Initial results from the Queensland Government funded CEI MT survey are encouraging. The results from this
survey illustrate the potential around our Kalman deposit highlighting a number of structures and conductive bodies
with the potential to host high grade mineralisation

Hammer’s Managing Director, Daniel Thomas said:
“The quality of exploration targets within Hammer’s portfolio continues to be recognised and rewarded as
evidenced by our successful funding applications to various state governments. The Western Australian
government EIS program has a tremendous history in contributing to the discovery of valuable ore deposits.
The grant will enable deeper drill-testing for a potential repetition of the Bronzewing Deposit within Hammer
tenements.
Whilst the interruption to our North Orelia program was unfortunate, it has given the Company an opportunity
to re-assess the priority of its targets and allows us to refocus on the displayed potential at Target 1. The
Company is looking forward to a busy period with the drilling of a number of prospects at both our Bronzewing
South Gold Project and our Copper and Gold prospects in Mount Isa.”

Quote:

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Originally Posted by JBmurc

Still sitting on 2mill of the HMXOD ex. SEPT 30th 3c ex price

Currently Buying HMX 2.5c hopefully get the rest of my order filled today ..

Last couple of anns -comments from MD

Hammer’s Managing Director, Daniel Thomas said:
“The first program of the JOGMEC Joint Venture has positioned Hammer for success in 2020 with the definition of
a number highly prospective Copper/Gold drill targets. Diamond drilling at Shadow will test the depth extent of
surface Cu-Au mineralisation that has already been observed. The upcoming program will also see Hammer
embark on significant field work to elevate earlier stage targets that have been identified during this program. These
upcoming work programs should ensure a steady stream of results from the Mount Isa projects throughout the
remainder of 2020.
Initial results from the Queensland Government funded CEI MT survey are encouraging. The results from this
survey illustrate the potential around our Kalman deposit highlighting a number of structures and conductive bodies
with the potential to host high grade mineralisation

Hammer’s Managing Director, Daniel Thomas said:
“The quality of exploration targets within Hammer’s portfolio continues to be recognised and rewarded as
evidenced by our successful funding applications to various state governments. The Western Australian
government EIS program has a tremendous history in contributing to the discovery of valuable ore deposits.
The grant will enable deeper drill-testing for a potential repetition of the Bronzewing Deposit within Hammer
tenements.
Whilst the interruption to our North Orelia program was unfortunate, it has given the Company an opportunity
to re-assess the priority of its targets and allows us to refocus on the displayed potential at Target 1. The
Company is looking forward to a busy period with the drilling of a number of prospects at both our Bronzewing
South Gold Project and our Copper and Gold prospects in Mount Isa.”

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It's good to see HMX got another round of funding grants - Money they've received from Australian govt/state level which they don't have to cough up from their own pocket.

Quote:

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Originally Posted by Stumpynuts

It's good to see HMX got another round of funding grants - Money they've received from Australian govt/state level which they don't have to cough up from their own pocket.

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Yes here's hoping we can see some good exploration results over the next few months ...get these HMXOD's (Sept 30th expiry) in the money SP well above 3c that will add 5.7mill to the coffers not including unlisted opts ..

https://www.businessnews.com.au/arti...-deep-drilling

Quote:

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Originally Posted by JBmurc

Yes here's hoping we can see some good exploration results over the next few months ...get these HMXOD's (Sept 30th expiry) in the money SP well above 3c that will add 5.7mill to the coffers not including unlisted opts ..

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I see Ziggy topping up his holding yet again.... Always a good sign when the head geologist (The one who put GOR on the map) puts his money where his mouth is.