Ann: Gas Flow from Permeable Zone Provides Unexpected Upside, page-110

Some people didnt agree with me when i called 9c six months ago. EXR isnt the ride it was in 2020. Nothing is going to massively rerate in this market until the TO cash is being counted or the result is certain. Yesterday was good peogress towards the latter but our MC has significantly reduced over 3 years. Mongolia slowed to a glacial pace, H2 died a slow death and then Nomgon didn't go as planned... then the funds dried up and here we are. Sitting on a diluted stock with a low MC. The upside is some investors can re-up into the M's of shares if they really want to at these prices.

If Daydream is successful in a rerate >30-50c then I see a very large percentage of holders partially or fully exiting EXR unless we get solid Nomgon progress or TMK or Jade have a big win beforehand.