Obviously no-one is enjoying the current situation or SP. As I said last week in a reply to Bello we cannot ignore that we are in the middle of the worst market that most can remember. Sorry for repeating myself but I believe what I said then still holds and is worth remembering;
"No Company has been spared, and sentiment is driving the market, not fundamentals or strategy. The key however is that when the market does turn it will focus on the fact that EXS does have cash, a solid asset and development options be it stand alone or a deal with Xstrata. The value proposition has not changed. Frustrating as times like these are, I believe that our patience will be rewarded".
Volumes are still pretty low; even today with >1 million traded that's still only ~0.5% of the stock. Can only think that those who are selling have to, or have been panicked into doing so.
Traders may be prepared to accept a 'low ball bid' but I suspect the long term holders (including Ivanhoe, Lion & management) still have the faith, patience and ability to hold out for a fair value and if you need reminding of what that is then simply re-read the available research.
Cheers
EXS Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
