a few pointers & questions

I have spent quite a while going over the company the last few days and watching the trade today.

As many have alluded, given the resource they have, i do find it strange they are not valued at at least twice what they currently are.

But a wise man once said, you don't trade the markets you expect, you trade the markets presented in front of you.

But he also said, back your judgment, cause fundamentals will ALWAYS prevail.

The drilling program that has just commenced is the best shot that the company has to finally re-rate itself. Management are well aware of the need to have a healthy register and a strong share price. All CEO's/CFO's understand the importance of having a strong SP so as to avoid unnecessary dilution and thus EPS minimisation going forward.

For Excalibur, this drilling program that has began is company making! It HAS to be. Management will understand this.

With that in mind, i took an initial, early position late in the day today and on the close. 1.2c looks to be the floor. The buying has been at 1.3/1.4. Moving forward towards the end of drilling, i suspect we'll see insiders, drillers, speculators and investors getting set, given the importance of this campaign.


Anyway, as said, i've read the banter, looked closely at the co and taken an initial position today. I spent half a year working overseas (HK) and have only got back into investing over the past month or so. Im trading FX more then anything.


Pre-drilling, i suspect we'll see trading bw 1.3-1.6. Depending on results, anything is possible...


All the best & Happy investing!



Regards,
fm