Letter to CD....
Hello Mr. Dupont,
I am writing as a concerned shareholder with a sincere desire for this company and all those involved to succeed.
You stated in the most recent PR updating 43-101..."We are very encouraged by this Updated Mineral Resource Estimate using drill data up to December 2012. Diamond Drilling has continued to intersect significant mineralization. The continuity from hole to hole as well as the grade encountered to date is very significant in terms of establishing both an open pit and underground gold resource."
In addition to the market (given the price action), I personally found this report to be both disappointing and discouraging, Many millions of dollars were spent during the year with a grossly disproportional increase in resource as indicated in report. You had provided guidance suggesting that by end of year 2012 report should indicate ~1.5 to 2M ounces with updates being provided every six months. Considering the stock is currently trading less than nickel, there are clearly other factors involved other than general market conditions or the economic climate accounting for such a tremendous decline in EXS stock value .
There has been a lot communication amongst shareholders in recent months, with large majority upset and dejected having suffered tremendous loses having invested in your company. The lack of clear communication leading up to this report, and then the reported miss based on previous guidance lends to a significant credibility issue. I believe it to be prudent at this time to gain the shareholders trust back and show that you value their support. In my opinion, it would prove extremely beneficial for this company for you to hold a conference call to discuss the latest resource report. I hope you give my suggestion a serious consideration.
AI
