There are a lot of other stocks that are in an undervalued...

There are a lot of other stocks that are in an undervalued position as well. CRK is another gold explorer that is undervalued just on what it has in the ground, and is expecting more resource upgrades.

The thing that will really jump start explorers is any mention of production. I think todays announcement from EXM is positive, as the p word was mentioned with regard to the investment show and tell.

Given that EXM is basically set to re-open an abandoned mine, in an area with infrastructure available for use, the track to production should be fairly swift. I would like to know what environmental and feasibility studies need to be completed before this occurs though. Since the mine already exists, would this be as big a deal as a mine in a new area?

The existing infrastructure is a bonus, but it wasn't so long ago a company called AGM in tassie was trying to get early production based on leasing another company's (unused) mills, and it all fell through because the mill's owner (can't remember who) wanted too much!

I'm not being negative, being realistic. I think EXM will make some good gains this year on upgrades. Maybe 10c is what we can hope for by the end of the year given the current climate. Note this will go out the window if steps towards production are made.