major investment group, page-42

Huthchley / Barry,

Firstly I am not a down ramper...call me what you like, it doesn't bother me. But perspective is important....I am actually saying that you can make money trading EXM.


...so to counter your points. You are saying they have plenty of cash.

Unless I am mistaken, which I could be, their last quarterly said they had $2m in the bank. Now looking at previous quarters spend and the increase in drilling this quarter it is pretty clear to me that $$$ are going out the door fairly fast. I would say they have comitted spend both drill, ops and admin of $1.2m first half of callendar 2008.

You don't want to get too low on cash reserves hence they are about to raise money...and it is always good to raise money when the story still stacks up.

I could be wrong. Read the last quarterly and if it says $4m I'm sorry...but if the figure was $2m then you would need to have your head in the sand to think they are not seriously thinking about raising money.

It's very hard to put amything contrarian / against the crowd on HC without being shouted at or dismissed as being XY or Z....I can understand why...but it tells me a couple of things;

1)We have not seen the bottom in this market yet as there is still way too much optimism around.

2)Some inexperienced people are going to keep losing $$$. Good traders should make a killing in this market trading things like EXM long or short (I am neither of these).Some less good ones will lose.