Yes the announcement is good news. Thje residual cash may see it through one more quaters before alarms start to sound that EXM is getting low on cash. By then we should have a JORC upgrade which should take the SP above 3c. What then??
The HK investors should then come on board with the 3c SP, giving it another $3M.
I expect then to be a share consolidation, probably 10:1 as the nunber of shares is becoming an overhead.
We need price of gold to stay up, at least > $600. That should be ok.
EXM would then be in a position to either attract capital to develop the resource or seek a JV arrangment with an existing gold producer to achieve that end. Takeover could also be a possibility.
The securing and announcements of the above I expect will take until end of calander year.
So, there will be buy and sell opportunity, as well as rewards for the long term holders.
buy - from now until late August
sell - at revised JORC announcement(September?) and HK investor cash
buy - on consolidation; probably 10:1
sell - plan for production or takeover announcement
just my thoughts - happy for you to critique
trop
future of exm
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