I have a very hard time attempting to understand the mindset of downrampers.
A common suggestion is that they are attempting to drive the share price down, temporarily, in order to gain a foothold at a lower price. I feel a more realistic reason would be that they have previously owned shares in EXM and for whatever reason, have either decided to voluntarily take a loss or they have been forced to do so. This then introduces another factor...... sour grapes whenever good news comes to hand. They no longer hold shares in question and simply wish all things evil, to befall the Company.
THE FACTS:
The situation with EXM is the Company has known reserves in excess of 500,000 ounces.
The Company has cash in the bamk somewhere north of $7,000,000, with which to continue with an extensive drilling campaign.
Drill results to date have been substantially ABOVE what would be described as average. ( someone explain to our downramping friend the meaning of good grades at shallow depth as opposed to poor grades at deep levels ).
Aeromagnetics have since determined 6 additional targets.... and the words " world class" figure in the picture as well.... with which to direct drilling funds.
A JORC is currently being established .... and this takes months to complete. The JORC will tell us all just how many ounces ABOVE 500,000 we will have confirmed. I am guestimating somewhere in the region of 2,000,000 to 2,500,000 ounces.
So EXM is in the enviable position of determining the SIZE of a reserve... not IF a reserve exists.
To any downramper I would ask " why is it so vital for you to diminish what obviously exists.... is it because you are such a benevolent and well wishing person that you cannot help but guard us all against our own folly"?
Or is it simply because you can't afford, or cant bring yourself to take the relatively low risk involved in waiting for the JORC result?
A sincere downramper (if there can be such a person ) would simply walk away from the scene and not bother to comment.
Bripoz.
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