RE: Good post carbonfibre
I am not sure if I agree with TStorm's conspiracy theory, although I do agree that any prospective bridge financing for HML will be easier at these levels. Ironically, with a $10mm cdn market cap, it MAY be cheaper for a prospective partner to try to gain control of HML via the public market, especially if they are concerned that there will be more than one party bidding in the event of receivership. Whenever you see a "value disconnect" to the degree that there is currently with HML, I think you'll see a deal as opposed to failure. Hemosol management told me that their current plant would cost $200mm and take three years to build. The land ALONE is worth close to $10mm. With approx $28mm in debt against the property, I think they have room to get a reasonable deal done.
I watched the trading of both Prometic and HML quite closely on Friday subsequent to Hemosol's news. There was very little going on in PLI, if anything it seems as if there is a pretty strong underlying bid.
Hemosol on the other hand saw at least one LARGE seller out of CIBC that really knocked the heck out of the market.... then all of a sudden some pretty large concentrated buying came in. This actually caught me by surprise and suggests to me that someone knows something. It was quite obvious that some big money stepped up close to the lows and really stood in... It will truly be interesting to see how this all plays out.