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Pump, pump, pump. Thought we were testing .29 or .30 this morning.
Thanks for the summaries all. I caught the tail end of the CC. Did he mention the cash issue of how much cash they have in the piggy bank, how long will it last, and how do they plan on raising more cash?
I did hear the tail-end where he mentioned another offering to raise 5-10M.
Thanks.
Sounds like it'll be a typical CC except instead of analysts asking questions it'll be shareholders.
At least it's not just EXS that plummets with "great" results. Bayfield getting hammered.
Tom - you have hit the nail on the head with your four questions:
1) Why aren't they buying into the story?
2) Are we still too early?
3) Is the story REAL?
4) Is patience a virtue, and the mother load is only months away?
For me, question #1 is something CD can address in a PR or some sort of letter to shareholders.
Question #2 doesn't seem to fit because we have results from over 40 holes, the finds are there.
Question #3 is scary. Anyone been to these locations or do we have any visual evidence of drilling at the site?
Question #4 is what we are all hoping for.
Question #1 should be addressed. Everyone talks about these great results. Then why (so far) has no one bought into the story? The drop in share price is evidence that no one is buying the story (literally). So what is happening here? Would love to hear more about these meetings from CD. For so many people this is a no-brainer, big win. Why do investors, other companies not see this?
For the next email to the PR people, would love for the question of why are no investors buying into the model and the story?
It's obvious he is happy with one million a year. Who wouldn't be? It's obvious because he has done nothing to show that he's not happy with the SP.
The newest thought in my mind is this guy does nothing for the shareholders so why even think he would do something for potential investors? He apparently has limited social skills or schmooze skills so how in the heck is he going to talk Wall Street into investing in his company? There's now way and all this junk about not talking about JVs is smokescreen IMO.
If the guy was personable, social, caring about the shareholders then maybe he'd have a shot on Wall St. Unfortunately he's not, and if people think that a geologist (like he appears to be) can go to Wall St. and wow hedge funds and I-bankers, that's funny. He's apparently gone back to the east coast. Why? To finalize a deal? I doubt it. If he wasn't dumb (and yes he is dumb, maybe not when it comes to geology but certainly to running a company), he would've put out a PR even hinting at a JV.
Now people are saying support is around .40. I thought support was going to be around .50 just last week! Previous poster was right, another offering is coming and it'll probably be at .40 (and like the last one, he'll be lucky to raise a dime). I don't think I can wait until the fall, I can't hold on to my shares this long when there are a number of better plays out there. Just can't.
Destinator,
That is a great idea and with all of my admitted complaining, I was thinking maybe if CD doesn't have the time/understanding/concern to educate investors and potential investors, then maybe we can write a summary/PR/something and send it to him and maybe he would be more likely to review and publish it?
Something with evidence of model, 98% of strikes have found gold, as we get closer to LSG property we predict XXX, already found xxx amount of this metal/that metal totaling xxx ounces, etc.
Just a thought. Good night all.
I really am not trying to sound super negative and Destinator I think it's your post that really irks me because you are right! For CD, this model is second nature and he truly believes in it which makes it even more frustrating that he won't take the 1-2 hours to write up a PR that explains and sells the model to investors. Also, it's hard to understand how hole 46 has been reported and hole 47 has not.
I just keep hoping that he has this ace up his sleeve and will throw it down but if he does, he's a hell of a poker player. I'm no major player but he has until the end of the summer, then I'm out. If I miss the boat, I miss the boat. Oh well.
Wisdom,
I appreciate your optimism and keeping the spirits up, I really do. But come on man. EXS is starting to feel like a gambler at the slot machine saying, well I've had no big hits so far and it's bound to happen so if I keep feeding it money...
Also, for the idea that EXS is down because the market is down: compare the 6-month chart of the Dow and/or Nasdaq with EXS' over the last 6-months. There is zero correlation. So based on that, I find it hard to believe big players think of EXS when the market is up or down. Hardly.
If this latest drill result validates the model CD is following, THEN HE SHOULD HAVE A PRESS RELEASE SAYING THAT IS THE CASE! Not a blurb about the model with the results, he needs to hammer that model into the heads of investors. He needs to put out a monthly status report or something to keep shareholders involved. It's ridiculous. How he doesn't realize this is mind-blowing.
Maybe when the share price gets cut in half again, he'll stop being just a geologist.
Exactly. He's very pleased? Ask him if he's pleased that his company is worth about half of what it was worth a few months ago. I know that comes off as rude, but I'd really like to hear this thoughts, especially for those of you who have been around for a couple of years. Really hope a JV is in the works, would gives EXS a little more credibility than right now.
The market is not as ignorant as some suggest, if there is great news the market usually responds well. JMO.
Amazing that $60k could drop the SP 15%. That's scary.
fundamentals haven't changed since the share price was .30? so are you suggesting that it would not be out of the ordinary to see this go to .30 since nothing has changed since it was priced at .30.
for those talking about the people getting "fleeced" by selling, did they get "fleeced" the other day when they sold above .60?
the uber-optimistic sentiment here is getting dangerously close to feeling like a pump-o-rama.
share price cut by 30% in a week and nothing from the PR department. amateur at best.
Gotcha, that was a crazy time a few years ago but turned out to be a great time to make a whole lot of money. we might see the same in the next 12 months, not as crazy as 2008 but we may see a way overcorrection and opportunities galore.
For those who were around at that time, what was going on during the drop from over $1 to .11? What was the response by management, if any? Thanks.
We'll see how weak the knees are when this drops even further. Today was a bad day, it'd be nice if it was the "MMs" but that seems more hopeful than anything. Maybe another PP at .50 which smells of desperation and very poor management. JMO.
Sounds like you are diversified nicely. Also EXS chart looks ugly right now.
That's all I've been saying. For those who say they are happy that CD doesn't do anything to appease the shareholders, I find that type of statement to be misguided and in denial of how to run a business, certainly one that is publicly traded. For better or worse these things matter and if you want your business to be successful (even the geologist CD does or he wouldn't have had an initial stock offering) then you have to promote your company.
If there was an item you wanted and it was in a plastic grocery bag instead of a nice box that is sealed, which one would you buy?
This stuff matters. For example, I know someone on Wall St. that is pretty influential and I continue to tell him about this company to try to generate some interest. I forwarded him the link to the PP PR earlier this month and he saw the typo "May 3nd" and said people will see that and laugh.
Bottom line, CD needs to take a little bit of that money he raised from the PP and hire a PR/marketing person. It's reality. The other reality is for a company that continues to impressively confirm their model to be languishing at its current price is meaningful. CD needs to realize that if he hasn't already. Even if it's a fluff PR about the model and how the results support the model, it's still a positive and it keeps shareholders and potential investors informed. Quarterly summary is a great idea.
Thanks for the feedback steven820.
Wisdom, I've noticed that as well. Great sign after a deflating sell off. Would be great to see some consolidation today in the upper .70s.
Do support/resistance levels come into play with EXS, considering the spread is sometimes .05 and a few hundred thousand shares are traded daily?
I completely get and concede the point to not disclose a major before a deal is finalized and contracts are signed. Like in my last post, what or who would be considered a major? Some have mentioned hedge funds, others have mentioned a JV with other mining companies, etc. It's more curiosity than I want a name.
However, I can't help but think that when rumors about majors, glory holes, private investments are thrown around, it bumps the sp up and then when a PR comes out that is positive but does not confirm a rumor, the rumor mill has been so strong that the sp gets punished for not having monster news. We've seen it for two years + now.
Thanks for the previous responses.
I get that part, but I was thinking that since some on here were posting about majors (assuming these posters don't work for the majors or EXS), could provide some insight onto who the majors are.
Also are we defining majors as hedge funds, specific individuals, other mining companies, all of the above?
Would love to hear a name or two of the majors that are on the board. Too much "trust me" or "sources" because if a major was in play, surely the stock price would reciprocate as much.
As for CD staying true to his geologist/non-marketing background that is good and bad. Good that he has experience and a method but funny story, he's company is open to the public to invest and the public, i.e. owners of the company, have a right to expect certain things from the company. I don't think it's being short-sighted to ask for better PRs that better explain things for the layperson.
For example, the most recent PP PR said "May3nd". I mean, come on. Either way, he's not just a geologist anymore, he's a businessman that made his company public. Asking for more doesn't mean someone is looking for short-term gains, it just means they expect more from the company. JMO.
Completely agree this was an investors fatigue sell off. Just like many, probably thinking I need to diversify or there are other plays that will return more in a shorter period of time. Especially with no real timeline on the next PR or drill result. Might be a tough next couple of weeks. Hope not.
CD needs to sell the results better, it's part of running a business. Also, there was no update in the PR on the New York trip, unless I missed that info over the last week or two.
Wisdom, you weren't joking. That PR was definitely "soon" after you posted. Well done!
Bywisdom, any news from your source on the PR? More smoke or just taking a little longer than anticipated?
Feels like these PR rumors get passed around, then nothing, then disappointment, then an anti-climactic PR.
Sorry, not trying to be negative. Still excited about the upcoming drill results, just thinking out loud.
I am very new to this board and I do appreciate the conversation and insight here. I'm only speaking about their PR and their history of a PR and then sp drops.
I am still long as I do believe eventually my investment will pay off in a fairly significant way. However, global markets are up big, gold is up, and EXS is down on higher than average volume for EXS in the US market (yes, not much but it's still higher than average for EXS). Hopefully some will see this as a major buying opportunity and the rest of the day will be more positive.
Bottom line for me: they need to hire someone or get some consulting on how to present their news. There is good stuff in there, but it's getting lost for some reason. PRs are a big part of the market, for better or worse. No more comments from me about this topic, thanks for the replies.
Terrible news release and the market is proving it. Down 10% on what most believe is a solid PR? Should we gather some funds so Mr. Dupont or his PR team can go back to college and take classes on how to present purported positive news to the public?
In the long run it seems like EXS will be fine but they need more exposure (more investors) and the PR yesterday (and the timing of it---terrible) was amateur at best.
Unless this is a ploy to get "cheap" shares in some cunning scheme or the other assays are going to be released VERY SOON, this PR is being graded as an F.
If EXS is smart they will offer another PR about the action of the stock today and how the future looks bright.
Terrible.
eh, we'll see how the market interprets this info tomorrow but I for one am not expecting much movement to the positive. I hope I'm wrong, I just don't see it from the PR I just read.
I also agree that it's poor management to release this at 5:30 after the market closed. It'll be lost by the morning time and even if this was positive, the impact will be lessened. JMO and very much hope that I'm wrong.
i've got tdameritrade. shares just traded, bid now back to .838. whewww!
bid .70? anyone else have that?