Hexagon Looks Beyond The Swarm, page-15

I agree.

HXG's share price is now dependent on MinRes, since MinRes owns 51% of the major project.

I sold all mine at 26 cents, and after a 2 year hold (much of it in the red), I was happy to do so, for a small overall profit.

I'm still keeping an eye though, in case the long periods of quiet cause it to fall substantially.

The HXG guys can now have their fun doing their laboratory stuff, while MinRes can take their time doing the rest.

I'm still disappointed they sold 51% of their only major project, but I understand now that they are explorers and not developers, and will never develop a project on their own, it's easier just to contract a drilling company and then sell ~50% and get someone else to bring it into development.

In this sense, HXG has become a prospect generator, so if you are into these type of stocks, this is a good one, but I can't see any dividends, or return of capital, or share price appreciation for years, if at all.

If MinRes wanted the project, HXG should have sold 80% of it for CASH ONLY, and then returned that as a special dividend to long suffering shareholders, this is what good prospect generators do, and only the good ones do it. HXG failed miserably on this score.

I don't think the directors own many shares, so they can sit back into a lifestyle, and collect their $300k a year without much stress.

This might languish in the doldrums for many years to come now.

Shareholders with belief, probably need to hear of drilling targets for the copper and gold tenements.

I still think they are a good management team, it's just that they have shown themselves to not be interested in going it alone and developing a mine, which severely limits the company's future potential to within a certain price range.

Gw