EXR Trading 2021, page-4777

@WatchNact As you know I bought in after August last year just after the peak @ 18c and kept buying in all the way to December, carrying a portfolio of EXR which just continued to go further into the red, for 5 months. I've said this a couple of times now, Ganns Retrace Theory is in place, around a 50% retrace.

I continue to compare EXR to QGC, tracking similar sp movements. Big highs, big lows. That stock retracted 50% a couple of times, 60c to 30c and $6 to $3.00. I think this is the nature of this kind of play in CBM, it's not a popular sector to follow compared to biotech and EV materials. Like you, I'm in it for the long haul, both out of anticipation and requirement.

While the sp being where it is isn't ideal, the flip side is management is acutely aware of where the sp is at. Covid restrictions put the hand brake on the drilling and seismic programs for the 1st quarter, and the 2nd quarter is off to a slow start. Now we have 2 drilling companies with 2 rigs in field, I'd be surprised if we don't get an announcement at some stage soon a 3rd and possibly 4th rig will be mobilising to site. Less than 3% of the PSC has been explored, not every hole will be a success. That's the nature of exploration.

The cap raise from both insto's and retail gives the company the opportunity to catch up, all they have to do is deliver. The drilling and seismic activities must become 'relentless'.