Exactly Boomtrader.... I get the feeling the management of EXM has been somewhat conservative in its projections...I read all the ANNs and spent many hours calculating best case and worst case scenarios - plus finding what historical data I could on line - this took a whole weekend although you must bear in mind it was raining that weekend.
What prompted me to sell quite a few other stocks and dump a little over half my available funds into EXM and EXMO is that I believe the management is under selling their expectations with a view to over achieving on the final JORC.
I won't post a number here as it is hard for me to substantiate without posting acres of references but I do believe when this is all over the JORC will be well above the 2mn (plus the 532k already JORD'd) ounces the management has guessed at.
EB
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