here comes the rerating, page-31

I'll probably get hammered for this...

Does no one here have a problem with the extra 750,000,000 share that were issued this week? Add the extra shares and today's launch in SP and you have, IMO, an overvalued stock. The market cap has boomed on no news and no change in fundamentals, except for the fact that we def won't be seeing drilling results until the end of the programme in 2 months.

After the recent issue of shares, all EXM shareholders value has been significantly diluted. Not cool.

Therefore, I am of two minds:

1. This is a very high risk play which is why I bailed at 1.5 last week on a decent profit and IMO if nothing changes the SP will fall again... and again...

2. Todays boom could be the change in EXM's fundamentals. The cats out of the bag and we/you may have upgraded the resource as previously speculated.


If it's the latter then good work. If it's the former then good luck.