recent trading

Morning all

Was thinking about recent trading and wondering to myself where (and why) are the sellers coming from ?

Here's my 2 bobs worth.

Latest assay results were only a few holes tho with excellent intercepts of high grade at shallow depth, but still the sp struggled to hold above 3c.

1st to eliminate a few possible sources of the selling.
We know that new investors from HK have had a good look at Excalibur, liked what they saw and heard and decided to buy in with $3m (placement) and we know that this stock has not yet been issued.
We haven't seen any change in substantial holder notice or change in directors holdings. No sellers there.

So where are they coming from ?
Just my thoughts in no particular order;

* The results we have had so far have been very good, both high grade and shallow, Rising Sun and other targets are shaping up very nicely. The Co has communicated that they are preparing to release new data shortly (we can only speculate as to when, lol). Some posters are quick to suggest that sellers are possibly due to poor results due. As most of you know i dont really 'buy into' all that cloak and dagger stuffand so i'm not buying this theory for the following reason;
Whatever the nature of these to be released assays, i expect that they will be preliminary/1st pass as have been the rest of results released to date, and as such not of MAJOR consequence one way or the other. I dont believe that any shareholder with significant 'skin in the game' would be punting on the next set of results. Anyone who is familiar with EXM knows that more drilling is required to increase JORC resources.

With regards the selling of late, i think there are 3 probable sources (keeping in mind that recent volume has been above the norm but nothing exceptional);

1) Short term traders taking what is roughly a 50% profit from the recent levels of around 2c. This stock is on a lot of radars both here on HC and in the wider community.

2)This is the 1st time, since being issued, that stock from the Dec/Jan placement (exm/exmoa) has reached par with its issue price of 3c. Some of the recent selling could be a symptom of some 'distressed' shareholders who have seen the need to withdraw some funds from the market without incurring any losses and retaining an exposure via exmoa. There are plenty of people out there hurting and i spose if you were in that position this may seem like a sensible course of action.

3) As always there will be the 'sheep' or 'herd' that panic at every change in sp and are jumping at shadows, the frustrated and impatient that are falling into the hands of an accumulator.

At the end of the day people sell for all sorts of reasons
BUT
buyers only buy for one reason.

This is a volatile stock and some retrace of sp is par for the course, imho.

In short, dont panic just hang tight cause when this stock breaks thru it tends to run hard, lol
Good luck to all holders

regards

Boomtrader