Is it worth it, the answer sadly for me is no and this is why....

Is it worth it, the answer sadly for me is no and this is why.

As a holder for the last 5 months, I've seen the the 4s, the 1.6 and everything in between. With the recent retrace, I feel a little dishearten and feels certain writing on the walls for myself and those who wants to read it. By no means I want to rain down on other people's hopes and dreams but as a pragmatic person, it's time to get real, at least for me.

Don't get me wrong, EXM genuinely had good fundamentals, it had money to dig and it is smart enough to look for gold in areas where there were gold. The only problem is, it hasn't found enough of gold to excite the market, except for the few diehard followers.

My detractors would argue, the labs are busy, they are still drilling, more results (and good news) will come out soon. I honestly think that there are gold in the NT and given enough time and money, EXM might one day find it.

And here lies the problem with EXM, they haven't found anything of substance as yet i.e. Jorc upgrade and they are runing out of cash. Sure, they probably have enough for this year, what about next? Why else do you think they need investors? They simply need investor's money to pay for more drilling, expenditures and keep the company as an ongoing concern. And one day in the near/distant future, EXM will strike it but for now no one knows when or if it will happen at all.

The latest announcement (and the lack of other announcements) did it for me. I'm not a geologist, but as an investor, this is what it reads. EXM found some 'good' gold in a few areas, but just not everywhere. And by the way, there is some copper too, so it's not all bad news, EXM might well be a copper miner too.

I like to apply time value of money to my investments and parking my money into EXM for years and years for that 'inevitable' pay day is not in my opinion, part of my investment strategy. So, I'm heading out the door - when EXM reach the levels to at least what I bought them at.

To the holders and believers, I hope i'm wrong and you all make FDL like returns, and even have a good laugh at me for being wrong. All the very best and may you be rewarded with your patience.

DYOR, no advice given.