You are dribbling about the market having no faith in management... perhaps you have no faith in mgmt, perhaps a few other NS's & KD's have no faith in mgmt, but the reality is the market has a LOT of faith in mgmt, and the message is there for all to see in the EXM placement notification of 3rd August 2009...
here are a few pertinent facts from that announcement...
* 1 billion new shares placed at $0.01 to raise $10 million
* placed on a global basis to institutional, professional & sophisticated investors
* Directors of EXM & related parties comitted $580,000 as part of the placement
I don't know much, but I do know that for a small company like EXM who had a pre-placement market cap of about $22 million, to be able to go to "market" and raise $10 million is in fact an INCREDIBLE sign of faith in management by the "market". Further, in my experience, chaps who can write cheques with six zero's on them are not muppets looking for instant gratification!
Getting Gold out of the ground can take years, so just because the drill rig is a few days late, it is no reason to start moaning & groaning about mgmt! If your investing time horizon is so short, may I humbly suggest you sell your stock (and presumably pay off your margin loan) and go and find yourself some "instant gratification" investments - the nearest ones will be at a RSL or Casino, they have a slot for coins and they are generally played by "lifes big winners".
Now kempeman, before you get too hot under the collar, I just want to add that I have no personal grievance with you. However after reading your post, it made my blood boil because every two-bit, lousy spec stock that I follow seems to have bucket loads of HC posters who spend their days whining about management with scant regard for reality.
From a historical perspective, here is something that may illustrate my point - I was lucky enough to buy KAR back in July 2004 around $0.25 - for years I had to endure impatient NS's & KD's moaning & groaning about KAR management! Incredibly, despite the fact that KAR mgmt have grown KAR from a market cap of $20 million to around $1.5 billion, their are still HC posters complaining about KAR mgmt!
There is an old phrase in the market...
GET BIG, OR GET OUT!!!
Those kind sir, are the REAL "brutal facts" - do yourself and your credibility a favour, and stop whining like a schoolgirl!
DSE Price at posting:
0.8¢ Sentiment: LT Buy Disclosure: Held
