Well Mickey people have very recently been paying a lot more for...

Well Mickey people have very recently been paying a lot more for Hampton shares than what they are worth. By my calcs some 50% more than what the Peel shareholding is worth on a per HHM share basis. Personally i think that is due to impatience and a fear of missing out if Peel were to move higher. So the "massive discount" you mention is in reality no discount at all. In fact IMO it is on the money. But the issue will result in the number of shares on issue increasing by 25%. So the new issue @ $0.025 is actually at a premium based on the current pricing of Peel stock.

Of course that makes no allowance for any value being attributed to Hampton's other projects or interests. But for the sake of this conversation you would probably attribute very little value to those assets at the moment anyway. Most of them ( such as royalty interests ) are very much future dated & dependant on others bringing forward & developing projects which may not even happen.