I've been watching XAM since about the 4cent mark. Should have bitten down on them then. They really have just bounced along, up and down the 10cent line for a while now, but have been well supported at this level. I'm not sure if this news is strong enough for a permanent re-rate (could be wrong so good luck to holders).
Like a lot of good copper exploration/development projects you need to take a long term view when jumping on board these stocks and be prepared to hold as exploration tends to crawl along and then you have the whole problem of financing and completing DFSs which in themselves are like pulling teeth. The Cu price going forward will determine the action and the motivation of any suitors in my opinion. I doubt there will be a rush of big players at this stage looking for an entry into this project. The Cap Ex will hold this back unless it is proved to be a truly outstanding ore body.
Eshmun
XAM Price at posting:
14.5¢ Sentiment: None Disclosure: Not Held
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