the key is EXM is a gold play, not a gold producer.
They have tailings...easy money but not fortunes.
They have drilling result, and from neighboring mines we know what to expect...thats the first re-rating 2c-2.5c is realistic.
Then the market will price the mine according to gold in ground. At this point the mine rights can be sold or a takeover in play, JV partner(with neighbour?) or cap raising to take to production.
there is alot to look forward too, and the drilling results are any day now.
Whats the downside? drilling results dont match or better surrounding mines? pretty unlikely geology and history determine that.
Future dilution to take Coy from explorer to producer, hardly a risk. when capital is needed for that we are already in a great position.
Patience is the key. After i hear details about another company(BBI) that i HAD money tied up in, if their is no value in re-investing there i will be committing further to EXM.
Goodluck ppl
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