The drill holes have been great. The story has been great. The dilution has been frightening and that is why you see selling pressure. In 2008, the company achieved a market cap of $36m after raising $6m. In 2012, the company has a market cap of $43m (undiluted) after raising $40m. This speaks to the issue of the marginal return of capital. If you raise an additional $40m and are then capped at $80m, the incremental PER SHARE return is ZERO. For every $1 raised, you should increase the value of your franchise by $4. You should be at a market cap of $160m today on that basis. However, you would also be valued at $200 per ounce "inferred" which is 4 times the industry norm. So how in the @#$# do use "manipulation" as the bogeyman? The inflection point will come when it comes and CD will deliver it. The gnarling and gnashing of teeth in here is because you THINK the stock should be at a certain price point and don't do the analysis of why it actually ISN'T. I spoke to Chris yesterday morning for an hour and raised all of the concerns that all of you have voiced in here and the answer boils down to this: a ten million ounce deposit will be valued at $100 per ounce or $1 billion. If EXSFF has 250m shares out by that time point, you get $4. If gold is at $2500, perhaps it rises to $150-200 per ounce and you get $6-8 per share. So ask yourselves how many more months it will take to get a potential suitor to recognize the 10m ounces and how many more drill holes are required to achieve that type of inferred resource.
Cheerleading should be saved for the high school football games; whining should be saved for the women's bridge club social; and rationale discussion is what we should be engaging in.
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