shares on issue are actually 1.5b. I've included the no of options into calculations to arrive at a more conservative figure. However, it may not be all that realistic that they will all be exercised in the future.
No matter which way one looks at EXM sp should go north in the company's transition from explorer to producer.
In hindsight one just has to look at the share prices for PDN, Oxiana, Mincor, Allegiance(AGM) in the transition from explorer to producer. I was fortunate enough to sit on AGM from 15c to 65c, it eventually got taken over at 1.10. Oxiana went from 10c to over $3, PDN well over 8000%.
With the POG increasing and EXM also sitting on potential increased resources especially in the Rising Sun area, I will not be surprised if this will be a 10 bagger by production time in 2010.
DSE Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
