sensible valuation versus market sentiment

Here I go again..... check out my previous, infrequent posts..... but I need to revisit the past in order to reinforce the facts, rather than get drawn into the negativity some posters would rather promote.

EXM HAS A SHARE PRICE THAT IS A TOTAL CONTRADICTION TO THE COMPANY'S FUNDAMENTALS.

If the share price is a reflection of the market's opinion of the management.... or the market's overall sentiment to gold juniors... or the market's reluctance to embrace and trust ANYTHING ..... or the market's sheer inability to absorb EXM's fundamentals.... one thing is obvious:-

THE ROADSHOW WILL WILL ALERT POTENTIAL PREDATORS TO THE FOLLOWING FACTS OF LIFE.

1. EXM has a MINIMUM 1,200,000 ounces of gold in the ground..... together with a COPPER component which I consider to be a bonus, and not part of this equation.


2. The TOTAL VALUE of the GOLD.... based on the current price of AUST $1200 per ounce.... lies in the region of AUST $1,440,000,000.

3. The number of EXM shares on issue lies in the region of 1,584,000,000.

4. Divide the TOTAL GOLD VALUE by the NUMBER OF SHARES ON ISSUE..... to arrive at a value per share of 90 CENTS!!

5. Advice from several sources experienced in the field of gold company valuations appears to confirm that when a Company falls within the sights of a predator, that predator will attempt to acquire the Company for ONE TENTH of the proven in ground value.

6. This puts a "predatorial" value on EXM.... at 9 CENTS per share.

7. The current EXM share price is 0.9 cent.... or, ONE TENTH OF what a predator would normally offer.

8. EXM has approximately $2,500,000 in the bank ....and is not at the stage where any predator would deem the Company to be desperate.

9. ERM .... our oft touted friendly neighbour.... has the necessary plant to accommodate EXM's output..... and why wouldn't they do so.... it will be additional revenue for ERM.

10. Sooner or later we will attract attention.
How much attention.... depends on Alex's public speaking ability during the remainder of this month.

I have been with this Company, one way or another, for 5 years....have sufferred significant misfortune along the way.... have been the victim of circumstances on two separate occasions.... and am determined to be present when payday eventually arrives.

If any of you out there can match my perseverance, patience and commitment.... I would love to hear of it... I need allies to continually remind the Hot Copper forum that EXM is dramatically undervalued and will enjoy a share price recovery some time in the future.

Lastly, would someone please explain to me why anyone would post negative comments..... is it because they want to warn the long term holders and guard us against our own folly.... or is it because the have lost confidence, have sold out and want reinforcement of their actions.

Bripoz.