for what its worth I have been around this industry in a corporate capacity for more years than I care to remember. Ultimately EXM will never get to a mine stage. They will prove up the resource using the current funds and a bigger player, not BHP, but larger than EXM will come in an take the asset. My guess scrip for scrip.
Alternatively EXM interest will be significantly diluted in a JV where EXM holders will be left holding a royalty in end production. 10-25%
I just cant see the current management getting a mine up and running as there is now more incentive for them to do a deal and exchange shares and options held for someone elses and then exit.
DSE Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held
