HMZ METALS INC. (HMZ)
Close: 0.085 Change: +0.010 Percent: +13.33% Volume: 502,390 Exchange: Toronto
Why it fell out of favour:
HMZ Metals Inc. is a company that deals with the mining and production of base metals in China. The company fell out of favour last year when their partner in an operating copper smelter project in Guangxi Province, China, Hechi Inc., broke the terms of a production agreement. Hechi took control of the project and neglected to pay the royalties to HMZ.
Why it is now in favour:
The company has recently filed an MOU to purchase an operating copper-moly mine in Hunan Province, China. Hunan Province contains some of the richest molybdenum and copper deposits in the world. In addition, management is in the final stages of closing the legal wranglings surrounding the Hechi copper smelter project in China. HMZ has received almost $1,000,000 in financing to further pursue base metal investment opportunities in China, as well as to settle the Hechi matter. The company has also hired leading base-metals strategist and Merril-Lynch investment analyst Joyce Bish for the purpose of determining project feasiblity. The company is currently reviewing the acquisition, or possible joint acquisition, of assets outside of China as well.
Stephen Wilkinson - Lead Director, Chairman of the Board
• Geologist, BSc, MSc, MBA, 25 years experience in mining and finance industry
Kerry D Smith - President, CEO
• Mining engineer, BSc, MBA, 25 years experience in mine operations and mine finance, including equity analysis
Brian M. Cloney - Acting CFO
• CA, ACC, over 30 years experience providing accounting and financial advisory services to the mining industry
Timothy N. Campbell - VP, Corporate Secretary
• BA Hons, 12 years public company regulatory compliance and corporate finance experience